Nifty within striking distance of 23,000: Will markets go higher or take a sharp U-turn? Check key trading levels
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Benchmark index Nifty rose 1.6% on October 15 to reach 22,949.95, nearing the 23,000-mark.
- ✓Analysts said the market needs to reclaim 23,100 levels to signal a pause in the recent decline.
- ✓While many shares fell, traders now watch key support levels closely to see if the current pullback will continue higher.
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- Category
- MARKET
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
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Benchmark index Nifty rose 1.6% on October 15 to be within touching distance of the psychologically important 23,000-mark.
At 12:05 pm, the Sensex was up 1,144.44 points or 1.57% at 73,926.33, and the Nifty was up 327.25 points or 1.45% at 22,949.95. About 1,545 shares advanced, 2,221 shares declined, and 180 shares were unchanged.
Will markets go higher in short term or will they take a sharp U-turn? Here's what analysts said.
"In the coming sessions a move above last week high of 22,776 will open further pullback towards 23,000-23,100 levels. Failure to move above 22,776 will signal consolidation in the range of 22,300-22,775.
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