INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty50 climbed for third straight session to reclaim 10,800 mark on Tuesday
That said, index managed to end above its 200-day moving average of 10,792
positive candle is indicating a sideways rangebound movement
Nifty is moving in a triangle pattern and is currently placed near lower end of triangle at 10,700 (lower apex point of triangle)
Securities.
During session, index tested its 50-day exponential moving average, before seeing a smart recovery
The index come off a bit in end and eventually rose 30.35 points, or 0.28 per cent, to close at 10,802.
For any possible upside towards
10,850-10,880, index needs to sustain above 10,820
Securities.
Chandan Taparia of Motilal Oswal Securities believes Nifty can climb till 10,850 and later 10,929 levels if it holds above
10,750-10,777 range.
The big picture still remains that of a sideways trading zone unless Nifty clears 10,923 level, which can pave way for
short-term critical hurdle of 27,430 appears to have cleared decks for Nifty50
