The negative crossover in daily and hourly momentum indicators signals a sell opportunity. Key support levels to watch are 24,265 (20-day moving average) and 24,000 (23.6% Fibonacci retracement level). A breakout above 24,860 could push the market towards 25,530, according to Jatin Gedia of Sharekhan.
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