As anticipated the Nifty not only surpassed its consolidation hurdle at 21840 but also the 22000 - Tradebulls Securities
![](https://portfolio.investmentguruindia.com/uploads/news/Tradebull Securities.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
As anticipated the Nifty not only surpassed its consolidation hurdle at 21840 but also the 22000 psychological level with healthy stock rotation & volume participation. At the close, Nifty maintained its close above the 22,000 level despite an overbought condition exhibited by its trend strength indicators. Going forward, the ongoing momentum & fresh unwinding pressure could help the index scale towards 22240- 22300 zone immediately without much hassle. Breakout on its daily scale exhibits a ‘Bullish Flag’ pattern formation complimenting the ongoing bullish secular move to continue towards its pattern targets around 22280 which coincides with the immediate significant options open interest cluster. A healthy time & price correction seems over as the index redefined the higher cluster support base at 21600-21500 zone which now serves as a good trailing stop zone for ongoing long positions. The trend failure would only be confirmed in case the index registers a consecutive weekly closing below 21530 level. Until then expect the ongoing bullish trend to continue upwards with regular bouts of volatility bouts.
Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indiateam57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/munishakhatwal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tatapower57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Daily Market Analysis : The markets saw profit-taking today and closed nearly unchanged, fol...
More News
![](https://portfolio.investmentguruindia.com//uploads/news/arete securities.jpg)
The Markets are expected to open marginally higher today as trend in GIFT nifty indicate a p...
![Nifty closed at 22666 with a gain of 153 points - Jainam Share Consultants](https://portfolio.investmentguruindia.com/uploads/news/jainam share consultant.jpg)
![However if index crosses above 19470 level it would witness pullback rally which would take the index towards 19500-19600 - Jainam Share Consultants](https://portfolio.investmentguruindia.com//uploads/news/jainam share consultant.jpg)
![Benchmark index traded with positive bias yesterday before closing with 0.62% gain at 23869 level - Monarch Networth Capital Ltd](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)