Vinay Rajani of HDFC Securities recommends buying GSFC, Gujarat Alkalies

The technical analyst also expects the Nifty to rally to 17,484 to 17,794; the support is now raised up to 17,100 level.

The NSE Nifty closed at the highest point of the current upswing. The Nifty is up more than 1,650 points from the recent bottom of 15,671, registered on March 08, 2022. The Nifty has managed to sustain above its 5-day EMA, which is currently placed at 17,100-odd levels.

The Nifty seems to have found support in the gap area of 16,987- 17,175, formed on March 17, 2022. The Nifty and BankNifty both indices closed on a very strong wicket and therefore current uptrend is likely to be extended towards the next targets of 17,484 and 17,794. 

Going ahead, support for the Nifty