IDBI Bank has been forming higher top higher bottom candlestick pattern on the weekly chart since July 2022. Momentum Indicators and oscillators are showing strength in the stock.
Mastek rose 6 percent to Rs 1,888, the highest closing level since September 13 last year, and formed long bullish candlestick pattern on the daily charts, with above average volumes. The stock has seen a decisive Mother candle breakout on the higher side on Friday, indicating potential continuation in the uptrend.
NIIT has seen strong buying traction in the last trading session on Friday, which was backed by robust volumes and has witnessed a breakout on a closing basis, signifying positive development in the counter.
The 18,050-18,000 level was safeguarded firmly, showcasing the importance of pivotal support and is expected to act as a sheet anchor in the comparable period. On the higher end, 18,400-18,450 is likely to act as the sturdy wall and a decisive breach would only trigger fresh longs in the system in future
India’s growth trajectory stands out in the global context, and Nifty is trading around long-term average valuations, thereby giving a unique opportunity to investors.