It will be the day of short covering in the Indian markets today after the Trump and Iran have announced a complete ceasefire for two weeks. The global asset classes have reacted sharply to this news where crude oil prices fell more than 15% in the initial trade while the global equities have started on a strong bullish note. The support for Nifty is around 22900-23000 for the day while 23800-24000 is the resistance zones for the day. Bank Nifty have shown good resilience in the last couple of sessions and have reclaimed the 52500 on the daily charts. The overall trend of the index is good with some respite is seen for the price after the recent brutal sell off on the daily charts. The sentiment on the street will remain cautiously bullish and can lead the gains today.

ONGC

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