Nifty has reversed 3 time in last few days from near 11600 level. It had created a gap on election day at 11595 which is now acting as a major support. It is also trading within parallel channel. If it close above 11880 then we can say that reversal has taken place. On lower level 11780-11800 and 11730 is a major support zone. CCT has signaled buy on daily chart. 50 DEMA has acted as a major support. Market has close above both 10 & 20 DEMA.
Normally, we see pre-budget rally in market and specifically in sectors having impact of budget.
Close above 11870 can take market to new highs, provided 11600 is intact on closing basis.
Normally, we see pre-budget rally in market and specifically in sectors having impact of budget.
Close above 11870 can take market to new highs, provided 11600 is intact on closing basis.