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The consistent uptrend in all five days of last week after forming a bottom around 17,550 in the previous week raised confidence among market participants
Based on the OI percentage, 135 stocks were on the short-covering list. These included Coforge, HDFC, Tata Consumer Products, Vodafone Idea, and City Union Bank.
Bank of Baroda is trading within the big symmetrical triangle, which adjoins major swing highs and lows since December 2022. The stock is on the verge of breaking out from the symmetrical triangle.
Rail Vikas Nigam has formed robust bullish candlestick pattern on the daily, weekly as well as monthly charts, with strong volumes.
The 17,600 level is expected to be crucial for further direction of the Nifty50 going forward and, if the index manages to hold the 17,500-17,600 area, then 18,000 can be a possibility in coming sessions, experts said