NSE Nifty closed decently higher by 183 points and closed at 17,166 levels whereas BSE Sensex shot up 619 points and closed at 57,684 levels.
According to stock market experts, technically this trade pattern indicates a formation of pullback rally of a down trend.
Unveiling intraday trading strategy for Thursday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The sustainable upside move of Wednesday seems to have lifted hopes for bulls to make a comeback.