INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty reclaimed the 9,100 mark in style on Thursday
In the process, the index decisively took out its 20-day moving average and formed a Long Bullish Candle on the daily and weekly
charts.
Analysts said the index has the potential to move towards 9,300 level, with the 8,800 level likely to offer support in the near
term.
Rajesh Palviya of Axis Securities said Nifty has decisively broken its multiple resistance in the 8,950-9,000 zone on a closing basis,
move towards the 9,300-9,500 zone
said the index is approaching the upper end of a Bearish Wedge pattern
The daily momentum indicator has completed the pullback cycle till the equilibrium line
Also, the intraday momentum indicator is showing signs of weakness
