The positive chart pattern like higher tops and bottoms is intact as per the daily chart and Thursday’s swing high of 19,875 could be considered as a new higher top of the sequence. Hence, any decline from here could open a possibility of higher bottom formation around 19,600 -19,550 levels in the coming sessions, said Nagaraj Shetti of HDFC Securities.
Dollar rebounds after Fed goes big on rate cut
The U.S. dollar rose broadly on Thursday after the Federal Reserve’s significant interest rate cut. Despite initial volatility, the dollar rebounded from a one-year low