The broader outlook clearly validates the support of 200-SMA, presently set at Rs 145-mark. The consolidation breakout from the range of Rs 200-155 in early August has elicited a bullish outlook for the coming months. Also, the positive crossover of 100-SMA with 50-SMA further negates any major drawdown.
Dalal Street Week Ahead: Sideways consolidation likely to persist amid global trade uncertainty
The Nifty experienced a week of range-bound trading, closing slightly lower with a 0.53% loss. Facing resistance near the upper edge of a rising channel,