Day trading guide: 2 stock recommendations for Monday
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Last Updated: Apr 04, 2021, 05:26 PM IST
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Technical indicator RSI has turned upwards after taking support at the lower end of the bull territory, writes Aditya Agarwala.
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A move above 14,900 could take the Nifty 50 index all the way up to 15,250, according to Aditya Agarwala.
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Benchmark indices ended a truncated trading week with gains of more than 2 per cent, kicking off April on a positive note. Further, bulls finally managed to push the Nifty 50 index beyond its key short-term moving averages, the 20-DMA and the 50-DMA placed at 14,840 and 14,785 respectively. The index also made a higher high crossing its previous week’s high of 14,878, indicating bullishness; now sustained trade above 14,900 in the coming sessions will extend the gains to levels of 15,100-15,250. On the downside, a critical support zone is 14,740-14,650. Technical indicator RSI has turned upwards after taking support at the lower end of the bull territory, suggesting that the uptrend is still intact, and a move above 14,900 could take the index all the way up to 15,250