Sharekhan says Nifty is inching towards its short-term target of 13700
The index is expected to stay on the upward trajectory. Sharekhan says the Nifty is inching towards its short-term target of 13700. The price action over the last few sessions shows that on the occasions of minor degree dips 20-hour moving average has been acting as a cushion. The average is currently near 13400 and is likely to continue with its role as a near-term support.
The bulls were in control from the beginning and mostly sectoral indices participated in the move. As a result, Nifty comfortably settled above 13,500 levels: Reuters