The Nifty 50 started Thursday's session on a positive note and touched an intraday high of 24,134.70 in early trade. This level marked nearly a 61.8% retracement of the previous day's decline. However, the index failed to sustain at higher levels and gave up more than 150 points from the day's high in the second half of the session. Despite this late weakness, the index ended higher by 80.75 points, or 0.34%, and snapped its two-day losing streak. However, the close below the psychological 24,000 mark kept the recovery muted. Nifty Forms Inside Candle Thursday's price action resulted in the formation of an inside candle. This came after the previous session recorded the widest single-day range in over one month. The latest candle had a small green body and a long upper shadow, which indicates hesitation at higher levels. This suggests that while buying interest emerged after the recent decline, traders were not confident enough to carry positions aggressively. ...
Exit polls that predicted a primacy of Congress in Chhattisgarh and Telangana and that of the BJP in Rajasthan and Madhya Pradesh, have been hotly contested by both camps in states they were predicted to lose. While exit polls are known to get it wrong many a time, their predictions proved a touchy topic in this round of elections, seen as the semi-finals before next year's Lok Sabha polls. While the BJP doubled down on claims that they will win Madhya Pradesh, where many exit polls predicted a close fight, the Congress scoffed at the suggestion that they might not have a re-run of the 2018 victory. The party's government had collapsed two years later as its senior leader Jyotiraditya Scindia crossed over to the BJP with 20-plus MLAs. Former Chief Minister Kamal Nath, who is helming the state Congress in Madhya Pradesh, declared that the country is run by "vision, not television". "Exit poll results are very diverse. We cannot say anything about it. I can assu...