Street signs: Market trend turns positive, Vedant Fashions stock & more

Market trend turns positive

The benchmark Nifty bounced sharply from its low of 15,748 last week to close at 16,630. Technical analysts say the market trend has now turned positive, which could lead to another 2-3 per cent up move in the near term. “Emergence of strong buying demand in the vicinity of the 52-week exponential moving average (EMA) amid oversold conditions and multi sector participation validates the positive stance on the index. We expect Nifty to eventually overcome the immediate hurdle of 16,800 and gradually head towards 17,200 in a couple of weeks,” said ICICI Direct. The brokerage further said