The said 20-day EMA has been holding for the past three months and has offered support for Nifty to witness upside bounces from it in the past, said Nagaraj Shetti of HDFC Securities. Open Interest (OI) data indicates a build-up of fresh short positions. FIIs were seen liquidating long positions in index futures as indicated by the Long-Short Ratio
Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future.