Indian equities extended their recovery on Tuesday, aided by firmer global cues, positive business updates from select companies and continued positioning ahead of the Reserve Bank of India's monetary policy decision.
The Nifty 50 closed at 22,714.80, gaining 195.05 points, or 0.71%. From a technical perspective, the index remains constructive as long as it holds above 22,600, according to Rupak De, Senior Technical Analyst at LKP Securities. He sees 22,850 as the immediate resistance level. A sustained breakout above that mark could extend the recovery, while failure to clear it could invite profit-taking and a pullback.
