Analysts expect the strong momentum for the Nifty on the back of strong rollovers, positive FII sentiment and upbeat global and domestic cues to take it to newer all-time highs in the December F&O series.
With decisively surpassing previous record highs and making higher highs, higher lows formation along with healthy volumes on daily charts last week, the Nifty50 is likely to march further northward with eyeing 20,400-20,500 zone.
NHPC has seen a breakout of horizontal resistance trendline adjoining multiple touchpoints and has formed a bullish candlestick with upper & lower shadows on the daily scale with healthy volumes
Given the formation of a bullish candlestick pattern for the second straight week, and staying above the downward sloping resistance trendline, the Nifty50 may sustain the upward bias amid consolidation and any dips would be a buying opportunity