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Taking Stock: Market bounces back, Nifty above 17,500; 3 factors that powered the rally

Indian benchmark indices made a smart comeback on September 21 after two days of selling, supported by positive trends in global markets. “Technically, the Nifty50 has recovered from the immediate support around 17,270 levels and sustained above 9-days SMA & Middle Bollinger Band formation, which indicates further strength for the next trading session,” said Sachin Gupta, AVP, Research at Choice Broking. Sharp recovery was witnessed from a good support zone and the Nifty closed the day at 17,562 with gains of one percent.

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