બાદ Nifty hits 10,000 to 11,000 after trading session

Ahmedabad. Monday, July 20, 2020

Market circles were overjoyed to see the NSE's Nifty figure, which had lost ground in the wake of the NSE Nifty epidemic, regain a significant level of 11,000 today. Analysts believe that if this surface is maintained, the pace of improvement will move forward.

The stock market was also rocked after a lockdown in the last phase of March, when the Corona epidemic intensified. In which last dt. The Nifty touched a low of 500 on March 8.

The market weather also improved after mid-April, with certain favorable reports from domestic and global levels, and the government announcing partial waivers in the lockdown in May. According to which last date. On June 6, the Nifty recovered to the level of 10,000.

After the initial phase of June, the market continued to improve on the back of various favorable reports.

In which today On July 20, the Nifty touched an all-time high of 11,000 in the opening trade. Thus, it took 3 trading sessions to reach the level of 10,000 to 11,000. During this time, 11 selected stocks jumped 50 per cent to 160 per cent.

The Nifty has also maintained its key resistance level of 108 at its 200-day moving average, reaching a key level of 11,000.

Analysts believe that the recovery in the market will accelerate as these two key levels are regained.

The above levels of 11,500 and 11,500 are important for the Nifty. Analysts added that if the Nifty breaks above the 10,500 level on the back of adverse reports, the lows could be considered as 10,800 and 10,400 support levels.