INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The Nifty50 on Tuesday inched a step closer to its record high levels even though traders remained indec isive, as signalled by
The daily candle had a long lower wick, which suggested buying at every selloff
In the absence of any concrete sell signal, the market bias remains positive, said analysts.
For the day, Nifty rose 44.05 points or 0.38
We continue with our advice to trade with a positive bias and avoid taking any contra bet
The gap formed at the start of the week at 11,630 level will be seen as a crucial near-term support and there may be profit booking if this
and the formation of higher lows for six consecutive sessions and the shift in support to higher levels can help Nifty surpass its lifetime
high of 11,760.
On the hourly chart, the index is trading in a dynamic rising channel, where the upper and lower channel lines are acting as
distribution near their respective daily upper Bollinger Bands
sees the 11,650 level as the immediate intraday support, said both daily strength indicator RSI and momentum indicator Stochastic are in a
bullish mode, which indicate that the upside momentum will continue
