 "The NSE is planning to replicate what is happening in China where several companies, which earlier eyed overseas listing, are now looking at the mainland.")
The Nifty has continued its northwards journey, pushing through resistance between 10,650 and 10,700. The index is well above the 200-day moving average (200-DMA) and there is a likely short-term target of 10,900.
While the short-term and intermediate trends are up, the index will have to cross the all-time high of 11,170 to confirm that the big bull market remains alive. If there is a trend reversal from below 10,900 levels, there will be successive supports between 10,600 and 10,700, and then at 10,300-10,400. The 200-DMA is now running between 10,250 and 10,300.
While the short-term and intermediate trends are up, the index will have to cross the all-time high of 11,170 to confirm that the big bull market remains alive. If there is a trend reversal from below 10,900 levels, there will be successive supports between 10,600 and 10,700, and then at 10,300-10,400. The 200-DMA is now running between 10,250 and 10,300.
A fall below 10,200 would push
