Currently, the index is trading above its short and long-term moving averages. The daily RSI has given a breakout of a falling wedge pattern and is about to cross the 60 mark, indicating strengthening momentum. Additionally, all the other indicators and oscillators indicate strength, and hence, we expect the current positive momentum to continue.
As long as the NIfty 50 trades above this support zone, it is likely to continue its upward movement towards the 22,800-22,850 zone, which is the upper trendline of rising channel, Sudeep Shah of SBI Securities said.
The following management s discussion and analysis of financial condition and
results of operations provides information that management believes is relevant
to an assessment and understanding of our. | December 7, 2021