The index was closed above its recovery of 50% of its recent fall, and the following level to monitor up is the retrace of 61.8% of the fall, which is 25,119, about 40 points from the fence on Monday for the index. The Nifty Bank, however, continues to remain the index to monitor, because after a 1,800 points rally in the last five sessions, the index now targets heights of three months, on July 316,406 arriving on stage.
Unlike the NIFTY, the Nifty Bank retraced all its fall and also made a new swing of 56,161 on Monday. In addition to the weekly expiration of NSE contracts, market players will continue to react to new commercial updates for the quarter from names like Metropolis, Bank of India, among others.
Another large IPO, the number of 11,607 ₹ ₹ from LG Electronics India, is also opening up for the subscription today, as well as the IPO of 15,500 Tata crores, which is already opened and has been subscribed to 39% on the first day.
Look at this space for all live updates.
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