Indian benchmark indices posted strong gains on Thursday, thanks to a fall in crude oil prices and ease in US bond yields. The BSE Sensex gained 405.53 points, or 0.62 per cent, to settle at 65,631.57. NSE’s Nifty50 rose 109.65 points, or 0.56 per cent, to end the session at 19,545.75
The immediate structure of Indian Overseas Bank suggests the formation of an ascending triangle, which will break at a close above Rs 50. When that happens, the price action will resume its upward trajectory to Rs 58. The stock is enduring accumulation in the overbought category of RSI.Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.