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Nifty's Bullish Bounce: Support Holds, Rally Eyes 27,000!
13 Dec
Summary
- Nifty bounced from 25,700, maintaining its broader uptrend.
- Nifty50 is expected to rise towards 26,900-27,000.
- Nifty Bank index targets 60,500-61,000 with bullish outlook.
The Nifty index has shown a strong recovery, bouncing effectively from the 25,700 support level. This resilience suggests the broader uptrend remains intact, despite an earlier prediction that did not materialize. The market sentiment remains positive, with expectations of further gains.
Analysts are maintaining a bullish stance, anticipating a significant rise for the Nifty50 in the upcoming weeks. A key resistance point at 26,350 needs to be surpassed to trigger this upward movement, with targets set between 26,900 and 27,000. Immediate supports are noted at 26,000 and 25,800.
In parallel, the Nifty Bank index is also exhibiting a bullish trend. It has identified support levels at 59,000 and 58,700. The outlook suggests a potential rally to the 60,500-61,000 range, reinforcing the positive sentiment across major Indian indices.
