Nifty 50 attempt to surpass the 19500 hurdle was fuelled by Bank Niftys optimism - Tradebulls Securities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/cb7b5a33e09dc524bf49beeee3773971.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty
Nifty50 attempt to surpass the 19500 hurdle was fuelled by BankNiftys optimism. It failed to close the day above the 19480(DecliningChannel) resistance level but the way its RSI (Relative strength indicator) has displayed a positive crossover near its 50zone; wecouldsee the hurdle getting surpassed during todays session itself. Yesterdays close was above its 5 DEMA support base whichalsovalidatesthe upcoming strength. So far, the index is consolidating within the bullish hammer patterns range. The pattern implications wouldonlyunlock once the index registers a close above 19480 level. Improvement in the placement of its indicators with RSI turningpositive&ADX flat, a clear breakout above the 19520 (Upper range of channel pattern) could see a strong revival in bullish directional momentum.Expect the oscillation within the ongoing descending channel to mature soon & nifty50 to commence its bullish directional momentumtowards 19660-19700 cluster immediately. Therefore, its ideal for traders to reduce their hedge once the closing is establishedabove19520 & opt for building aggressive longs once above 19660
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/power67.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_Radisson_Hotel_Group.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Sumita Dawra_Employment.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/power67.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/oil and gas_45.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/power67.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/DematAccount67.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/bank 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Amazon21Feb.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Utkarsh Small Finance Bank.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Nifty registers best week in 2 months after rising for 6 consecutive sessions](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/95f11bf3e1fc515ff0aed747520314dc.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/11/441be94ecaedc9d951b5886ec39f1d80.jpg)
The recent market move indicates caution among the participants amid mixed signals from the ...
![Morning Market Quote : Confidence and stability have returned to the market helping Nifty to rise by 4.5% Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/04/adaa81457f6650d063e619bb5f148871.jpg)
![Profit taking was broad-based as both PSU and private banking slipped lower - Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/12/aafb65556c24713c8dfd0c62db0073e6.jpg)
![Morning Nifty, Derivative and Rupee Comments as of 28 November 2022 By Anand James, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/11/47ce8eaf389910a2b291675f67eea4a8.jpg)