Tech view: Nifty has formed a double bottom pattern and a doji candle near key support levels. The 21-day simple moving average (DSMA) at 23,285 makes the 23,280-23,000 zone a strong resistance. On the downside, 22,780 serves as crucial support. Holding above this level, a buy-on-dips strategy is recommended, says Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.
Axis Bank set to raise $700 million through ECB swap facility
Axis Bank is set to secure seven hundred million dollars through a dedicated external commercial borrowing facility. This loan features two tranches with tenures of