Nifty at 20K, will the optimism last? Here's what chart suggests

The NSE Nifty may face some resistance around 20,130; above which the index can potentially hit a new all-time high soon.

The NSE Nifty 50 topped the 20,000-mark, and was seen quoting around 20,020 levels, in intra-day deals on Wednesday, November 29, after a gap of over two months. The Nifty last quoted above the 20,000-mark on September 18, a day after the index had registered its life-time high at 20,222.40. 

In the current rally, the Nifty has gained over 6 per cent from its low of 18,838 hit on October 26. 

Further, the overall market capitalisation of Indian stock markets hit the historic $4 trillion market cap milestone for the first time ever on Wednesday. The market value of all