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Nifty Reclaims 23000 After 13 Sessions: Will Markets Rally Or Reverse?
M
Moneycontrol•15-10-2026, 12:43
Nifty Reclaims 23000 After 13 Sessions: Will Markets Rally Or Reverse?
- •Benchmark index Nifty rose 1.6 percent on October 15 to reclaim the psychologically important 23000-mark after 13 sessions.
- •The Sensex surged 1349.47 points or 1.85 percent to trade at 74131.36, while the Nifty gained 378.25 points to reach 23000.95.
- •Analysts note that sustaining above key support levels like 22500 and 22450 will dictate whether the current pullback continues.
- •A decisive breakout above the 23100 resistance zone could signal a pause in the recent two-month sharp decline.
- •Experts advise traders to watch out for volatility during weekly expiries and focus on price action around critical technical levels.
Key Questions Answered
The benchmark index Nifty rose 1.6% on October 15 to reclaim the psychologically important 23,000-mark after 13 sessions, closing up 378.25 points at 23,000.95.
According to market experts, strong support levels for the market include the 22,500 and 22,450 zones, with 22,300 serving as a pivotal support level to prevent a deeper decline.
Analysts note that the index needs to start forming higher highs and higher lows on a sustained basis in the weekly chart and reclaim the 23,100 breakdown area to signal a pause in the recent sharp decline.
