Nifty futures were trading 237.50 points or 1.55 per cent down at 15,057.50 on Singaporean Exchange on Thursday, indicating a gap-down opening for BSE Sensex and Nifty 50.
According to a technical analyst, the Nifty / Sensex is recovering from a corrective pattern and traders need to be cautious, until the Nifty 50 index comfortably cross 15435. Image: Reuters
Nifty futures were trading 237.50 points or 1.55 per cent down at 15,057.50 on Singaporean Exchange on Thursday, indicating a gap-down opening for BSE Sensex and Nifty 50. In the last three days of the rally, Sensex has risen by 2,344.66 points or 4.77 per cent, while the Nifty has added 716.45 points or 4.93 per cent. Moreover, the market capitalisation of the BSE-listed companies has zoomed by Rs 9.41 lakh crore to reach Rs 210.22 lakh crore on Wednesday. According to a technical analyst, the Nifty / Sensex is recovering from a corrective pattern and traders need to be cautious until the Nifty 50 index comfortably cross 15435. “The Nifty / Sensex may move to the level of 16000/54200 in the next few days or weeks on the decisive dismissal of the level of 15435/52520,” said Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities.
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