Street Signs: Nifty racing past resistance, BSE's high-wire act, more

Shares of BSE have surged more than 20 per cent in less than two weeks, defying concerns surrounding the Securities and Exchange Board of India's (Sebi's) new futures and options

Unchained, Nifty racing past resistance with legs to run

 

The benchmark National Stock Exchange Nifty posted its best weekly gain since June, rising 2.3 per cent to close at 24,678. The 50-share blue-chip index has rebounded by 1,414 points, or 6.1 per cent, from its November lows. Technical analysts suggest that the rally still has room to grow, as long as the index stays above its support zone of 24,400. “The index has broken out of its recent consolidation phase, signalling a rise in bullish sentiment. Moreover, the Nifty has been holding above the critical 21-day exponential moving average, further