Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 29
Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, Nvidia share rally to Treasury yields“On the daily chart, Nifty remains in a firm uptrend. Tuesday’s negative closing seems to be more of a breather after the recent sharp up-move.
Nifty continues to hold above the 20 and 50-day SMA. 14-day RSI at 64.53 is rising and not overbought (though it has eased in the last two sessions), which is encouraging," said Subash Gangadharan, Senior Technical/Derivative Analyst at HDFC Securities.
While he expects further upsides and new life highs in the coming sessions in the run-up to the election results, he remains open to volatile movements in the very near term. “It will be important that the Nifty holds above the previous swing highs of 22,795 for the uptrend to continue.
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