INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty50 on Thursday climbed half-a-per cent to end December FO series at 10,780 level
In the process, the index snapped a series of lower high and lower low formations that it had been witnessing in last four se ssions
But the index could not capitalise on the gap-up start and ended up forming a small bearish candle on the daily chart
Further upside is a must to instil confidence among investors, experts said.
For the day, the index rose 49.95 points, or 0.47 per cent, to
During the session, it failed to surpass the crucial resistance at 10,835 level and eventually closed lower than its opening high, thus
It is now hovering at the middle of this zone
The price setup suggests a broader trading range with limited upsides
The index needs to hold above the 107,50-10,777 range to extend its move towards the 10,850 and 10,929 levels
The Nifty50 needs to sustain above 10,747 to retain its recent positive bias
In case the bulls manage to defend this level, a modest target of 10,894 can be achieved
