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Ahead of Market: 12 things that will decide stock action on Monday
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Now the Nifty50 needs to continue to hold above 13,350 to witness an upmove towards 13,750.
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Overall, the lower levels of volatility suggests that bulls are holding a tight grip and any small decline could be bought in the market.
Before ending the last week at 13,513.85, Nifty formed a Doji candle with a long lower shadow on Friday, indicating a lack of momentum in the rally. But this also signals that every dips are being bought into.
Chandan Taparia of Motilal Oswal Securities said, The index has continued its northward trend and has been forming higher highs from the last six weeks. Now the Nifty50 needs to continue to hold above 13,350 to witness an upmove towards 13,750. On the downside, key support exists at 13,300. ....

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