Indian equity indices opened Monday’s trading session on a higher note, breaking a six-day losing streak. However, the markets lost the momentum it was witnessing in the GIFT Nifty this morning. The NSE Nifty 50 opened 54 points or 0.22% higher at 24,709. The BSE Sensex opened 132 points or 0.16% higher at 80,558.

The Bank Nifty opened 59 points or 0.11% higher at 54,448. Similarly, the small and midcap stocks opened the day higher. The Nifty Midcap rose 250 points or 0.44% to open at 56,628.

“The market drifted down continuously during the last six trading days, pulling the Nifty below the 24,800 level, which was a support zone. Technically, the market continues to be weak, but it has reached oversold levels and, therefore, a short-term bounce back is likely at any time. However

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