Market ahead: Ahead of Market: 12 things that will decide stock action on Tuesday

NEW DELHI: Nifty50 on Monday formed a ‘Hanging Man’ candle on the daily chart. Analysts said the benchmark index can gain towards the 16,200-16,300 levels if it manages to close above 15,900.

Here’s how analysts read the market pulse:

Mazhar Mohammad of said investors should wait for Nifty to break above the 15,900 level before taking long positions on the index. In case of a strong breakout above 15,900 level, a sustainable upswing will emerge with a target of 16,300 level,” he said.

Independent analyst Manish Shah said Nifty needs to close above the gap resistance zone of 15,830-15,880. If Nifty50 manages to break above the 15,960 level, expect the market to see a swift rally to 16,200-16,300 zone. This could be the biggest buying opportunity in Nifty50 in two months,” he said.

That said, here’s a look at what some of the key indicators are suggesting for Tuesday’s action:

US stocks pare early gains

Wall Street’s main indexes gave…

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