On the downside, support is seen at 10,777 and then 10,650 levels for the Nifty50 index.
The RIL scrip is up 12% since October 26 against an 8.56% rise in the BSE Sensex.
A small bodied negative candle was formed on Monday at the new swing high of 10,940.
Nifty closed above 200-day SMA on a closing basis, indicating a bullish breakout.
Dollar declined against major world currencies following Powell’s remarks.
December to February is the best time for Asian indices while it is June-August in India.
The index is now expected to see resistance in 10,740-10,775 zone.
As many as 20 Nifty companies saw earning per share (EPS) downgrades for the quarter.
The MACD is known for signalling trend reversals in a traded security or index.
The market breadth improved though declines outnumbered advances.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon