Street Signs: Market uptrend, short covering in Tata Motors, and more

Market uptrend to stay or surrender?

After rallying for three straight weeks, the benchmark Nifty50 closed at 16,221 - nearly 6 per cent higher than this year’s low of 15,294 on June 17. Technical analysts say the market may continue to trend upwards, provided it surpasses immediate resistance. “The Nifty now enters a crucial resistance band of 16,293-16,610. On the downside, 16,026 could offer support. Nifty has not gained for more than three weeks in a row since mid-January 2022. It will be interesting to see whether this pattern sustains or breaks in the coming week,” said Deepak Jasani, head of