Technical View: Nifty climbs above all key moving averages
The Nifty 50 resumed uptrend once again after a day of minor correction and gained strength in the last hour of trade on May 16. The index finally decisively crossed 22,300, with climbing above all key moving averages, which is a positive sign. Hence, the next resistance to watch out for would be 22,500-22,600 levels as crossing the same can take the index towards record high placed around 22,800.
16 May 2024 | 05:39 PM