Charts indicate strength, therefore buy Tata Motors and IndiGo stocks for short-term gains. Nifty ma

Currently, for trend-following traders, the pivotal levels for Nifty and Sensex would be 17750 and 59650, respectively. They could then reach the levels of 17900–17925 and 60000–60200 above that.


By Shrikant Chouhan


The Sensex rose by 379 points on Tuesday, while the benchmark index Nifty increased by 130 points. The Auto and Reality indexes performed best among the Sectors. Auto increased by 2.5%, while the Reality Index increased by more than 2%. While PSU banks and media equities saw some profit taking. Technically, the index retained the positive momentum throughout the day after a gap-up opening, which is often bullish. On intraday charts, it likewise maintained the higher bottom shape.


Currently, for trend-following traders, the pivotal levels for Nifty and Sensex would be 17750 and 59650, respectively. They could reach the levels of 17900–17925 and 60000–60200 above that. On the other hand, if the indices manage to trade below 17750 and 59650, a swift intraday correction may be probable. They could retest the ranges of 17700–17650 and 59500–59300 below that.

On the weekly scale, the counter is trading into a rising channel pattern that repeatedly forms the higher top and higher bottom series following a reversal from its many support levels. A bullish continuation pattern is anticipated to be maintained by the counter shortly, according to the daily chart's strong bullish activity.


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