The sharp upswing in Nifty and Gift Nifty is clearly visible in the picture. As per the Trading View chart, at 3:30 pm Nifty 50 closed at the level, gift Nifty witnessed sharp buying and prices ran straight up.
According to the chart, Gift Nifty has seen a jump of around 200 to 206 points, representing a percentage increase of over 0.80%. The price appears to have rebounded from the zone around 25,575 to reach the 25,780 – 25,850 level, which shows strong bullish momentum.
Volume is also important in this surge. As shown in the chart, the price has increased with a volume of around 17 thousand, indicating that not only short covering but also fresh buying has come into the market. A bounce with volume makes the trend more credible.
At around 8 pm IST, the market sentiments saw a sharp change after the positive news regarding the tariffs. Gift Nifty followed this news with sustained upward candles, indicating that the market has responded positively to the news.
According to this technical structure, the 25,850 – 25,880 area may now act as immediate resistance, while the 25,575 – 25,600 area is becoming an important support on the downside. If the price sustains above this level in the coming session, Nifty may witness a stronger gap-up opening and further rally.
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