The Indian market is expected to trade higher following positive global cues. The Sensex rose more than 400 points while the Nifty50 closed above 18,800 levels. India VIX was down by 5.46%. Options data suggests a trading range between 18,700 to 18,950 zones. Nifty formed a bullish candle on the daily frame and has to hold above 18,777 zones to witness an up move towards 18,888 then 19,000 zones. Bank Nifty index formed a strong bullish candle as buying interest was seen across the banking space.
Sugar stocks rally continues: Balrampur Chini, Dhampur Sugar, Uttam Sugar Mills rally up to 4%. Two big triggers
Sugar stocks rallied as domestic sugar prices surged sharply over the past month. Government data showed retail prices rising from Rs 48.18/kg on July 20