The hourly momentum indicator has also reached the equilibrium line indicating that the pullback has matured and can begin a new cycle on the downside, said Nagaraj Shetti of HDFC Securities.
Largecaps showing no fundamental change despite market bounce: Nischal Maheshwari
Investors are closely watching sectors like banking, manufacturing, auto distribution, and aviation after a recent rate cut. Analysts see temporary margin pressure for banks and