F&O: Nifty forms higher tops, bottoms for a second straight session in solid bullish signal
SECTIONS
F&O: Nifty forms higher tops, bottoms for a second straight session in solid bullish signalBy Chandan Taparia, ETMarkets.com
Last Updated: Jan 20, 2021, 05:38 PM IST
Share
Synopsis
Now, the index has to hold above 14,500 level to extend its move towards 14,750 and then 15,000 levels, while on the downside, immediate support exists at 14,450 and 14,350 levels.
Volatility could be comparatively higher ahead of the Union Budget 2021.
Nifty opened positive on Wednesday, took support at previous day’s closing levels and extended the gains to hit a fresh all-time high at 14,666 level. The index has been holding on to higher levels and making fresh record highs with its highest daily close above 14,600 level. The index formed a bullish candle on the daily scale and continued to form higher tops and bottoms for the second session in a low.