Indian inventory, commodity and cash markets will stay shut on Tuesday, March 1, 2022, on account of Mahashivratri. They will resume buying and selling on Wednesday, March 2, 2022.
On Monday, the S&P BSE Sensex surged 388.76 factors (0.70 per cent) to settle at 56,247.28 whereas the Nifty 50 climbed 135.50 factors (0.81 per cent) to finish at 16,793.90.
The rupee closed flat at 75.33 towards the US greenback on Monday.
Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The short-term trend of Nifty remains positive with range bound action. Any decisive upside breakout of 17,000 levels is likely to pull Nifty towards 17500 levels in a quick period of time. However, an inability of bulls to sustain above 16,800 levels could trigger another round of downward correction to 16,300 levels in the near term.”
