The Nifty continues to rise, although the momentum of the uptrend has slowed. It has now pulled above the 10,500 mark, which is well above the 200-Day Moving Average (200-DMA). This could still be a dead-cat bounce.
But, there are fair chances that the Nifty will continue its rebound till around the 10,600-10,650 mark. This is likely to be a trading zone of 10,300-10,600. Breakouts from either side of this range will probably lead to a 300-point move till either 10,000 or 10,900. The index move above 10,450 establishes a pattern of higher highs, which suggests an intermediate ...
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First Published: Mon, April 16 2018. 23:49 IST
