Daily Markets - Jan 19, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian equity benchmark indices bounced back strongly on Jan 19 after two days of losses. At close, the Nifty was up 239.90 points or 1.68% at 14,521.20.

Volumes on the NSE were the lowest since Jan 01. Among sectors, Realty, Metals, PSU Banks, Media, Bank, Auto and Pharma rose the most.

Asian shares ascended on Tuesday as investors bet China's economic strength would help support growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. European stocks inched higher on Tuesday, sustained by hopes that an economic recovery following the coronavirus pandemic is not far off.

Nifty has bounced back smartly on Jan 19, however with lower volumes. This has raised hopes of continuation in the upmove. Sharply positive advance decline ratio also reinforces this feeling. However it would be interesting to watch as to whether Nifty will cross 14653 and make a new high.

Source : Equity Bulls

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