Investment Ideas
Synopsis
“On the daily timeframe, Nifty is moving within an upward channel. A breakout above 25,153 with a strong bullish candle would be crucial for sustaining further upside. At present, the index is trading above the 20-SMA at 24,811 and the 40-EMA at 24,827,” said Preeti K Chabra, Founder of Trade Delta.
The Nifty index ended the previous week on a strong note, registering a gain of 1.51% on the weekly chart. The index continues to trade above its 40-week EMA at 24,315 and the 20-SMA (middle Bollinger Band) at 24,828, indicating strength.The weekly RSI stands at 56.9 and remains above its signal line, confirming bullish momentum.“On the daily timeframe, Nifty is moving within an upward channel. A breakout above 25,153 with a strong bullish
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