INSUBCONTINENT EXCLUSIVE:
level.
In the process, the index formed a bullish candle on the daily chart
If the index breaks above 10,780, a big rally could be in the offing, analysts said.
The index recouped losses seen in the previous two
The fast retracement indicate bullish sentiment, says Rajesh Palviya of Axis Securities, who believes any sustainable move above the key
resistance at 10,730 will trigger further rally towards 107,80 and 10,800 levels.
For the day, the Nifty50 rose 97.25 points, or 0.92 per
The index has been trading above its short-term averages, but is still not in the overbought zone as suggested by the relative strength
This rally not only negated bearish formations registered last week but appears to have triggered a fresh leg of upswing.
Nifty50 can clear
its immediate hurdle at 10,785 level and head towards its logical target of 10,928, said Mazhar Mohammad, Chief Strategist of
