INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The Nifty50 climbed for the fifth consecutive session on Thursday to settle above its 50-day moving average, forming a bullish
candle on the daily chart.
The index made higher high and higher low for the ninth consecutive session, suggesting a positive bias
Besides, technical indicators and oscillators generated a buy signal
the rally may lead to consolidation
In the next session, if the market rallies with wider participation, that should confirm a breakout
38 per cent Fibonacci retracement of 11,171 to 9,951, which indicates strength
The index managed to close above its near-term moving averages of 20-DMA and 50-DMA, signalling bullishness to continue further towards
10,480-10,520 zone in the near term," said Rajesh Palviya, Head of Technical Derivatives Analyst at Axis Securities.
Nifty made higher
highs for the ninth consecutive session and closed above its immediate hurdle of 10,420, said Chandan Taparia of Motilal Oswal Securities
