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[hfe_template id='11223'] [ad_1] The Indian equity markets have shown signs of recovery, with the Nifty rebounding from its oversold trajectory. However, Rajesh Palviya, technicals and derivatives analyst at Axis Securities, cautions that the rally remains fragile unless key resistance levels are surpassed. In an interaction with ETNow, he highlighted the significance of 22,750 as a pivotal level that needs to be breached for a stronger uptrend. "There is a recovery from oversold trajectory of Nifty. But still, we are trading below to 20-day moving average, which is placed at around 22,750 kind of level. So, that level needs to cross in this recovery," he stated. A breakout above this level, he suggests, could fuel"substantial short covering action and then possible extension of rally could be there towards 22,900, even 23,000 level. While the broader market too has shown signs of improvement, Palviya stressed that Nifty must maintain a key support level f...

[hfe_template id='11223'] [ad_1] India's benchmark indices surged to fresh new highs on Thursday, with the Sensex closing above 81,000 and Nifty ending above 24,800 for the first time. The rally was led by gains in information technology (IT) stocks ahead of Infosys' first quarter results which were announced after trading hours on Thursday. The BSE Sensex ended at 81,343.46 up 626.91 points, or 0.78%, after hitting its lifetime high of 81,522.55. NSE's Nifty rose 187.85 points, or 0.76%, to a close at a record 24,800.85. The index hit an all-time high of 24,837.75 during the day. "We see the Nifty crossing 25,000 on or before the Union budget itself, and in case there is no negative news in the budget, it can extend further," said Rajesh Palviya, head of technical and derivatives research at Axis Securities. "This time the rally is purely led by large-cap stocks, while small- and mid-caps are seeing some sideways consolidation and profit takin...