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.

Source -https://economictimes.indiatimes.com/markets/stocks/news/nifty-could-rally-towards-17850-analysts/articleshow/98437852.cms