Nifty remains above the long-term moving averages of 50, 100 and 200-day SMA. The RSI plotted on the medium-term timeframe can be seen rising, indicating that the medium-term trend of the index rem
After lukewarm response to its earlier scheme to allow small investors to invest in government securities through stock exchanges, the RBI now allows direct investments.
On the put side, the 14,000 put contracts have the highest open interest. So, we can expect the range of the broader index to be 15,200-14,000 in the medium-term.
The extrapolated moves may even take Nifty to the next level of 13,769 which is 127.2 percent retracement of earlier fall from 12,430 to 7,511.
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