Nifty 50 closed at 22,997.35 on October 15, rising 374.65 points, or 1.66%, after opening at 22,671.30 and reaching an intraday high of 23,056.40.
The index now trades above its short‑term moving averages and is near the 0.618 Fibonacci retracement around 22,974.75, with the next major hurdle at 23,076.90, followed by the 23,187–23,320 zone. The daily RSI has risen to 49.94, approaching the neutral 50 mark, while the hourly RSI at 67.42 signals strong buying pressure.
Market breadth was strongly positive, as 44 Nifty stocks advanced and only six declined, led by private banking, services and IT sectors, though resistance near 23,000–23,077 may trigger profit‑taking.
