Nifty 50 Ends Losing Streak as Oversold Bounce Emerges

The Nifty 50 stock index rose slightly on Thursday after falling for three days in a row.

It finished at 23,477.80, gaining 46.30 points.

Buyers appeared more strongly near the end of the trading session.

A chart pattern called a hammer suggests that some investors bought after prices fell.

The index is also in an oversold condition, meaning it may have fallen too quickly.

This could allow a short-term bounce.

However, the larger trend is still weak because the index remains below several moving averages.

The Nifty needs to stay above 23,495 to show that the recovery is becoming stronger.

JSW Infrastructure could also rise if it moves above ₹345.