---------------------------------------------------------------------------------------------------------------
The Nifty ended its three-day losing streak on Monday, gaining nearly 100 points to close above the 10,700 mark. It also managed to close above its five-day simple moving average (SMA) again, which is placed around 10,694 levels.
The index is now trading above its 20- and 200-day daily moving average (DMA). This indicates that the bullish trend for the short- to medium-term is likely to continue. Few oscillators like relative strength index (RSI) and Know Sure Thing (KST) indicator also suggest that the positive trend is likely to continue.
For the last two weeks, the Bank Nifty has been outperforming the Nifty. It has confirmed the higher top and higher bottom formation on the daily chart seen last week. On Monday’s session, the index crossed its previous resistance level placed at 25,780 levels to close at a two-month high, indicating that the bullish trend will continue.
For Quick Trial Contact:
✆ - 09699997717✔
✆ - 0731-6626191 ✔
Mail: info@ways2capital.com
✆ Join us on WhatsApp @ 89620-00225 ✆
✆ 24/7 Customer Care 1800-3010-2007 (Toll Free)
0 comments:
Post a Comment