The NSE Nifty went up by 1.63% and the BSE Sensex went up by 1.25%. The Nifty Midcap-100 increased by 2.69% and the Smallcap-100 increased by 1.20%. The Nifty Metal and Pharma indices were the top gainers with 5.65% and 3.94%, respectively. The Nifty Financial Services index decreased by 0.26%. FIIs bought Rs20,606.80 crore worth of equities this month and DIIs sold Rs1,192.47 crore worth of equities. The Nifty is close to its all-time high and has formed a bullish candle on a massive move. There have been no bearish patterns confirmed recently. The US debt ceiling crisis may lead to a pause in quantitative tightening and a rate reduction in the near future. The Nifty may open positively and test the 18,600-18,696 level.
In the bull case scenario, if the Nifty closes above 18,620, it will test 18,965 in 8-9 trading sessions.
