The fact of India VIX fell 6% and volatility eased prompted investors to turn bullish and improving global cues in the wake of news regarding deescalation of the Iran - Israel issue signalling an end to the war fuelled the market today cementing investor confidence. Overall NSE India and BSE witnessed a positive rally today increasing the likelihood of positive move in short term.
Nifty 50 opened at 24787.65 rallied to touch intraday high of 25136.20 and closed at 25112.40 as 319.15 points higher (1.25% positive ).
In technical chart Simple Moving Average (SMA) and Exponential Moving Average (EMA) points out bullishness in the market.
EMA
SMA
Sensex opened at 81354.
85 touched intraday high of 82494.49 and closed at 83408.17 (1046.30 points up) forming a bullish engulfing candle stick pattern in day chart.
Bullish engulfing
Banknifty opened at 55566.70 closed 675.40(1.22%) higher at 56252.85 after touching intraday high of 56328.20.EMA and SMA indicates Bank nifty is positive.
Finnifty and Midcap nifty ended in green forming bullish engulfing pattern in daily chart and all other sectoral indices closed in green.