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After a consecutive decline for the last three days, the Nifty resumed its upward journey on Monday, where Nifty registered a triple-digit gain to close at 10,629 levels.
Moreover, Nifty bounced back from the strong support level of 10,490, which is placed at 38.2% retracement of the entire upswing from the boom of 10,004 seen on October 26, 2018 to the high of 10,775 recorded on November 19.
The Nifty is also trading above its 20-DMA, placed at 10,507 levels. Moreover, higher tops and higher bottoms are well intact and the Nifty is also trading above the Supertrend indicator on the daily charts.
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