YPwealth

US #Stocks surged on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major U.S. banks fueled a rally. #stockmarkets

Overall, the trend remains in favour of the bears, with momentum indicators in negative territory and the index trading below all key moving averages.if the #Nifty fails to defend the 23,500 level in the upcoming sessions, a fall toward 23,263. #niftycrash #stockmarketcrash

overall sentiment remains bearish. #nifty may continue to consolidate until it moves above all key MA.it may trade within 23,500–24,000 range. If it manages to sustain above 23,700, resistance is at 23,900–24,000. However, if it falls below this level, 23,500.

If the #Nifty sustains below the 200-day EMA, the immediate downside target would be 23,450-23,500 (around the December low), followed by 23,263, which is a crucial support level. #stockmarketcrash #lockdown