Trades in the bourses are strongly in the green, regaining most of the points that were lost during yesterday’s fall. The Nifty has backtracked to 5350 and is holding strongly in this territory. The index is up by 73 points or 1.4%.
Technical Analysts from Angel Broking, feel that a price wise correction of Nifty to 5210 is expected on the cards before the rally phase begins again.
Stocks from various sectors have participated in today’s pullback. The BSE Auto index is up by 2.5%. The Bank Nifty is up by around 3.4%. PNB has moved up by 5.6% . SBI is up by 5.4% at 2238. IDFC is up by 5.3%.