Nifty recorded another solid session on Friday extending
its winning streak to second consecutive session. Nifty formed another
solid bullish candle stick in fact on observing the index has recovered
almost four trading session’s losses in the past two days which depicts
the rigor with which bulls made a comeback. Nifty has comfortably
surpassed its 50-DEMA, its 21-DEMA and also closed above the same.
Going forward, the rising trendline which is visible on the daily chart which is placed around the 10320 levels is going to act a strong resistance zone. While, support is now upgraded to 10120 levels.
Bank Nifty on the other hand too recovered sharply and has also closed convincingly above the 50-DEMA. Going forward 25510 is the crucial resistance while support is upgraded to 25150 levels.
Going forward, the rising trendline which is visible on the daily chart which is placed around the 10320 levels is going to act a strong resistance zone. While, support is now upgraded to 10120 levels.
Bank Nifty on the other hand too recovered sharply and has also closed convincingly above the 50-DEMA. Going forward 25510 is the crucial resistance while support is upgraded to 25150 levels.
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