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The bulls managed to push the index higher after slipping towards its 5-days exponential moving averages (DEMA) to a fresh record high of 10,664.60 on Thursday making a small bullish candle which also resembles a 'Hanging Man' kind of pattern on daily candlestick charts.
The Nifty50 index which opened at 10,637 slipped to an intraday low of 10,612.35. It rose to a record high of 10,664.60 before closing the day 19 points higher at 10,651.
According to Pivot charts, the key support level is placed at 10,620.8, followed by 10,590.4. If the index starts to move higher, key resistance levels to watch out are 10,673.1 and 10,695.
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