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Live: Nifty near 19,400; Will the rebound pick up steam? Union Bank in focus| Aeroflex IPO opens

The Indian equity market had a good start to the week with the Nifty50 clocking a smart rebound and shutting shop around the 19,400 mark. 19,300-19,250 levels is expected to remain a crucial support zone going ahead. Experts say a 20-day EMA which is placed near 19,500 is likely to be a critical hurdle for a move towards 19,650 in coming sessions. The Nifty50, after two days of correction, rose 83 points to 19,394, and formed a bullish candlestick pattern on the daily scale, while the BSE Sensex climbed 267 points to 65,216. Overnight, on Wall Street the US 10-year yields are at 16-year highs and this morning Gift Nifty is indicating a negative start for the Indian market. Stocks that will be in focus today include Adani Enterprises, Tata Power, Union Bank and Lemon Tree among others. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Independent market analyst, Anand Tandon.

first published: Aug 22, 2023 08:45 am