GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities had a euphoric day on Thursday as Nifty made a fresh high above 25400 levels amid strong buying witnessed in the last hour of the session.
«Overall we expect the market to continue its ongoing momentum on the back of healthy buying by FIIs and retail participation at every dip. Key event to watch out on the domestic front — India’s inflation data,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start.
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Nifty futures on the GIFT Nifty traded 41 pts higher at 25,389.
Tech View
A long bull candle was formed on the daily chart which has broken above the crucial hurdle and also the range movement around 25200 levels. Technically, this pattern signaling a decisive upside breakout of the important resistance zone at 25360 (1.382% Fibonacci extension). This is a positive
