The market has reached near the crucial resistance of 23,000 on the Nifty 50, and it needs to give a strong close above the same for further upward journey from hereon.
With the recent upward journey, Hero MotoCorp went closer to its high of February 2021 (Rs 3,629). The stock formed strong bullish candlestick pattern with minute upper shadow on the daily scale with healthy volumes.
‘Nifty ended the week with a modest gain despite selling in the banking sector. Overall, the sentiment is expected to stay positive as long as it maintains above the critical support level of 19,500 as put writers are likely to offer support at this level.