Explore Now
Nifty opened positive on Wednesday and continued its momentum through the first half of the session, but some consolidation was seen in the latter part of the day. The index closed above its 50 DMA with an intraday gain of around 135 points. The index formed a bullish candle along with a long shadow on the daily scale and continued to form higher lows for the second straight session.
The index has been seeing sustained selling pressure near the 14,880 mark since last 12 sessions. Now, it has to cross and hold above 14,880 level to witness a range breakout and an upward move towards 15,000 level, while on the downside support exists at 14,650 and 14,550 levels.