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You might call it a breather after a strong rally seen in the previous trading session but analysts’ feel it was a strong day for Indian markets even though the index pared gains and closed marginally in the green.
The S&P BSE Sensex closed 26 points higher while the Nifty50 closed 1.05 points up amid trade war fears. Asian markets closed in red after the United States threatened to impose tariffs on an additional USD 200 billion worth of Chinese goods, dampening hopes of a compromise on trade.
Investors across the globe fear that an escalating US-China trade war could hit global growth and spoil investment sentiment.
If Wednesday's high of 10,976 gets taken out in the next few sessions, bulls will be able to push the benchmark index towards the weekly upper Bollinger Band, which is near 11,100
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