NEW DELHI: Dalal Street looked euphoric this morning after Prime Minister Narendra Modi late Tuesday unveiled a Rs 20 lakh crore economic stimulus and promised major reforms to get the economy quickly out of the Covid-19 disruption.
TRADE SETUP
Singapore trading sets stage for gap-up start
Nifty futures on the Singapore Exchange traded 211.30 points or 2.29 per cent higher at 9,436.30 on Wednesday, indicating a gap-up start for Dalal Street.
The Nifty50 recovery on Tuesday from the lows coincided with the 200-day SMA on the hourly chart, which offers
hope for the market, said Ruchit Jain of Angel Broking. "If the bulls manage to take the index beyond the 20-DMA level at 9,235, the recovery can get extended to 9,300-9,450 levels," said Aditya Agarwala of YES Securities.
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