Nifty Diwali Rally: Can Bulls Ignite a Fireworks Show?
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The Nifty50 Daily 0.25% X 3 Point & Figure (P&F) chart shows some promising technical signals.
The index trades near a crucial support level at the D-Smart Line, 24,557. After hitting a low of 24,567, the Nifty rebounded and closed the week at 24,854, indicating a potential bullish reversal.
If the Nifty can maintain support above 24,557 and close above 25,175, it could signal a renewed uptrend.
Additionally, the PMOX is still showing bullish signs, suggesting that there's still some strength in the market. Momentum is a key factor in market trends, and as long as PMOX remains positive, there's hope that the Nifty will recover and regain its upward trajectory this Diwali.
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CR and then DTB important
