From a technical standpoint, Nifty50 remains firmly on a rising trajectory. If it continues to advance within its defined and laid path, it may go on to test the upper edge of the rising channel which translates into the levels of 20500—20650 zone. The spikes in the volatility may turn the market choppy; however, there are greater of the breakout getting extended and the Index testing the upper edge of the rising channel. After that, some consolidation cannot be ruled out.
F&O Talk| Nifty faces reversal signals and weaker breadth, key support at 24,500-24,400: Sudeep Shah of SBI Securities
The 50 component index Nifty 50 as well Sensex closed nearly 1.2% lower today. The former closed 293 points lower at 24,852 while the latter