Stock Market Highlights: Nifty forms Falling Wedge pattern on a shorter timeframe. How to trade on Tuesday?

Indian markets broke their 8-sessions falling streak after recovering from day’s low, thanks to the heavy lifting done by HDFC Bank while getting support from Reliance Industries (RIL) and Bajaj Finance. While the 30-stock S&P BSE Sensex finished at 75,996.86, gaining by 57.65 points or 0.08%, the broader Nifty rose by 30.25 points or 0.13% to close at 22,959.50.

Commenting on the day’s action, Satish Chandra Aluri of Lemonn Markets Desk said that the markets experienced a relief rally from lows after Nifty 50 slipped below the 22,800 levels. “Technically, Nifty 50 closed below the 23,000-support level but Nifty may extend the bounce to 23,200 levels if buying interest persists with 22,800 acting as next immediate support on the downside,” Aluri said.