NIFTY BOUNCED BACK!!!
After Monday's brutal 601 point crash to 22,512, Nifty bounced back 399 points Tuesday closing at 22,912 and Sensex jumped 1,372 points to 74,068 with all sectors closing green. Today Wednesday Nifty is already at 23,064 continuing the momentum, that is nearly 550 points recovered in just 2 days from the bottom. On paper it looks like a strong recovery but honest question, is this real buying or are we just celebrating a 5 day holiday from war that may not even be real 😅
Trump said productive conversations happened with Iran, Iran immediately denied any talks took place at all. FII outflows have already crossed nearly ₹1 lakh crore in just 15 March sessions and that structural selling has not stopped yet. Crude is still at $98 which is still very high for India and the 5 day pause window expires this weekend with zero clarity on what happens after.
23,057 is the key level to watch today and if Nifty holds above that, 23,400 and 23,800 become possible in coming sessions. But if war news returns over the weekend after the pause ends, everything gained in these 2 days can be lost in one session again. Real recovery needs real resolution, not just a temporary pause from one social media post. What do you think, genuine reversal or another short term bounce?