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The rupee ended flat at 83.18 against the US dollar on Wednesday amid massive selling in equity markets as concerns over oil supplies through the Red Sea route dented investor sentiment.
The Futures Open Interest indicates a buildup of long positions in Nifty futures. The India VIX, known as the fear indicator, fell by nearly 5% to 13.76 giving major comfort to the bulls. The Nifty Bank index managed to bounce back from the intraday low of 46,919, indicating strength. The next big resistance is placed around 48,000, suggested experts.
On the daily chart, the MCX Gold December contract is forming a higher high and higher low pattern indicating bullishness with the price currently trading above its 21 & 50 Days EMA, Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said.
India Business News: BSE Sensex, Nifty50 today: In the afternoon trade, Sensex and Nifty recovered to go in the green territory. At 12:45 PM, BSE Sensex was trading at 70,
Markets witnessed a sharp sell off on Wednesday after a positive opening. Nifty ended sharply lower and closed near the lows of the day as it finally lost 302.95 points or 1.41 per cent to close at 21,150.15. Broad market indices like the BSE Mi