Nifty Eyes 23,400: Breakout Could Ignite Fresh Rally, Experts Say

• Nifty and Sensex extended recovery for second straight session amid easing geopolitical tensions and falling crude oil prices.
• Nifty closed at 23,306.45, up 1.72 percent, while Sensex gained 1.63 percent to 75,273.45.
• Experts identify 23,400 as key resistance for Nifty; a move above it could trigger a rally towards 23,600-23,800.
• Investor sentiment improved on reports of potential US-Iran negotiations, cooling crude oil prices below USD 100.
• All sectoral indices ended higher, with BSE MidSmall Private Banks Quality Tilt surging 3.7 percent.

Key Questions Answered

What specific Nifty levels are crucial for a sustained rally, according to experts?

A sustained rally for Nifty requires a move above 23,400. Experts suggest that holding above 23,000 is crucial for a positive near-term trend.

How did easing geopolitical tensions impact crude oil prices and investor sentiment?

Easing geopolitical tensions have led to a significant decline in crude oil prices and a rise in equity markets.

Which sectoral indices saw the highest gains during Wednesday's trading session?

The Metal index saw the highest gains during Wednesday's trading session. It ended as the top gainer with a rise of 2.63%. All 16 sectors closed in the green, with the Metal index leading.