In a very strong start to the week, the domestic stock market surged with great strength and witnessed a secular upmove, as it attempted to confirm a breakout on the daily charts. The NSE Nifty50 ended with a gain of 132.65 points or 1.20 per cent.
Though the index has not completely moved out of its resistance zone, it has certainly created a strong base for itself. We expect a positive start to the trade on Tuesday and expect followup rallies.
However, even after such a str ..
In such market, the traders don’t have much option, but to chase the momentum. In event of Nifty inching higher, the levels of 11,200 and 11,285 will act as resistance points. Supports may come in at 11,120 and 11,070 levels.
The Relative Strength Index (RSI) stood at 68.0290, marking a fresh 14-period high, which is bullish. However, it did not show any divergence against the price.
Though the index has not completely moved out of its resistance zone, it has certainly created a strong base for itself. We expect a positive start to the trade on Tuesday and expect followup rallies.
However, even after such a str ..
In such market, the traders don’t have much option, but to chase the momentum. In event of Nifty inching higher, the levels of 11,200 and 11,285 will act as resistance points. Supports may come in at 11,120 and 11,070 levels.
The Relative Strength Index (RSI) stood at 68.0290, marking a fresh 14-period high, which is bullish. However, it did not show any divergence against the price.
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