Nifty could rally towards 17,850: Analysts - Qoneqt
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    Vikshita Vitthal Gujaran in Stock Market Update

    06-Mar-2023 11:03 AM


    Nifty could rally towards 17,850: Analysts

    The Nifty rallied 1.57% on Friday to close at 17,594, driven by covering of short positions by foreign investors .
    The index has formed a bullish pattern on daily and weekly charts, and technical analysts do not rule out a rally towards 17,850 if the index stays above 17,535.
    DERIVATIVES ANALYST, MOTILAL OSWAL FINANCIAL SERVICES Nifty has formed a bullish candle on a daily scale and came out of its consolidative move of the last few sessions with buying in banking stocks.
    It formed a bullish candle on the weekly chart with a longer lower shadow, indicating buying interest at support zones.
    India’s VIX moved down by 6.09% from 12.97 to 12.18.
    The MSCI May 23 probable inclusion stocks Hindustan Aeronautics , Power Finance, and Cummins have more steam left and can continue to rise.

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