Nifty has broken out of a Running Triangle pattern, indicating the start of a fresh leg of up move. The daily Bollinger bands have begun to expand and prices trading along the upper band indicate that there could be sharp trending moves on the upside. We expect Nifty to target 23,000 – 23,100 in the short-term. On the downside, the zone of 21,900 – 21,860 shall act as a crucial support zone.
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