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NEW DELHI: Nifty touched its all-time high on Wednesday forming a Hanging man pattern on the daily chart. Amit Trivedi of Yes Securities says that the appearance of such a pattern at current levels could attract some profit taking. However, follow-up action needs to be closely watched. According to Ashis Biswas, Head of Technical, CapitalVia Global Research, the market s short-term technical condition shows an upward shift in the prevailing market range, and it is likely to range between 13,550 and 13,780. Indian market is effortlessly rallying to record highs on a daily basis, tracking firm global markets. Increasing prospects of the US stimulus measures, hopes of an effective vaccine and a conclusive Fed meeting to announce a positive policy are lifting market sentiments across the globe. In the domestic market, all sectors witnessed good momentum with realty leading the rally in hopes of a revival in demand, said Vinod Nair, Head of Research at Geojit Financial Services.

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