March 31, 2023 / 01:51 PM IST

Santosh Meena, Head of Research, Swastika Investmart

The April collection is off to an excellent begin. The relative stability of the world markets is among the major causes. In addition, FIIs started some money market shopping for and a few quick masking within the F&O market. But, provided that they started the April collection with 91% of their positions in index futures quick, there may be nonetheless room for a big short-covering transfer.

Due to the rise in rates of interest within the USA, the Nasdaq was the worldwide fairness market chief within the earlier decline. But, it has already recovered 20% from its backside, signalling the conclusion of the bear market. It additionally means that the market anticipates an impending peak in rates of interest within the USA.

Historically, the fairness market has carried out properly in April. Technically talking, Nifty has established a short-term backside round 16,800 ranges, and it efficiently crossed its 20-DMA of 17,220 throughout at this time’s buying and selling session, which is encouraging for the bulls. The 200-DMA of