Nifty 50 and Sensex gained over 1% today, boosted by positive global cues that lifted market sentiment. Broad-based buying provided relief to investors after recent downturns.

By the end of the day, Sensex had gone up by 820 points (1.04%), reaching 79,706. Meanwhile, Nifty climbed 250.50 points (1.04%) to touch 24,368. Out of these stocks, 2,064 saw an increase in their prices, while 1,293 witnessed a decline, and 85 remained unchanged.

Sameet Chavan from Angel One observed that the Nifty is trading within a channel range of 23,900 – 24,400 on the hourly chart, with the lower end aligning with the 50 EMA and the upper end aligning with the 20 EMA and a bearish gap.

He advised traders to focus on these key levels and trade in the direction of any breakout rather than frequently changing positions. Monitoring global markets can also help anticipate breakout directions.

The India VIX decreased nearly 8% to around 15.3.

Broader markets ended in the green, and all sectoral indices ended in the positive territory. The Nifty PSU Bank, Nifty Realty, and Nifty IT gained over 1.5% each. While among public-sector lenders, Indian Bank and Canara Bank were some of the gainers.

The top Nifty gainers included Eicher Motors, Shriram Finance, ONGC, TechM, and M&M, while the biggest losers were HDFC Life, Sun Pharma, Kotak Bank, and Divis Lab.

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