Here's why Ravi Nathani is bullish on Nifty 50 index in the near-term

Traders must adopt a bullish stance on the market as the Nifty 50 index closed above 17,870, indicating that bulls are likely to be stronger than bears in the near-term, says Ravi Nathani

Nifty 50
Last close: 17,871.70 (Bullish)

It is recommended that traders adopt a bullish stance on the market as the Nifty 50 index closed above 17,870, indicating that bulls are likely to be stronger than bears in the near-term. This positive breakout was supported by technical indicators such as a positive MACD and upward-trending RSI, as well as favorable pivot levels. The best trading strategy in this scenario would be to buy on dips, with a strict stop loss of 17,475 on a closing basis, and a minimum target of 18,100, followed by 18,200 and 18,400.

Nifty Realty
Last close: