INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The Nifty50 on Tuesday took out the immediate hurdle in the 10,550-70 range and made a b ullish candle on the daily chart
Chances are, the index may continue with its positive bias through the remainder of the truncated week
On the hourly charts, the pullback across indices is subdividing into lower degree waves, said Gaurav Ratnaparkhi, Senior Technical Analyst
Going ahead, the 38.2 per cent and 50 per cent retracement marks shall be key levels for the pullback
index rose 72.25 points, or 0.69 per cent, to settle at 10,584
During the day, the index touched the 10,600 mark and filled a falling bearish gap between 10,540 and 10,547 levels, said Chandan Taparia of
Motilal Oswal Securities.
Besides, the index recovered about 400 points from its support and swing lows in the 10,200-10,138 range
The next medium-term hurdle is likely at the 200 SMA at 10,800, Taparia said.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities,
