 "Stock market, markets")
Nifty continued its upwards journey and closed at new all-time high levels on Tuesday. RSI for the Nifty has reached the overbought zone on daily, weekly, and monthly charts. However, negative divergence is not seen on any of the time frames yet, which indicates the strength in the current uptrend. Nifty is expected to continue its uptrend and longs should be held on a trailing stop loss basis. Strong support is seen at 16,700 odd levels in Nifty. Largecaps are expected to outperform the smallcap space for the short term.
Buy Axis Bank (Rs 787): | Target: Rs 835 | Stop-loss: Rs 750
The stock has broken out from the bullish cup and handle pattern on the weekly charts. Bank
The stock has broken out from the bullish cup and handle pattern on the weekly charts. Bank
