Nifty's trend has shifted from consolidation to bullish: Vinay Rajani

On August 3rd 2021, Nifty broke out from the consolidation, which was there for last two months in the range of 15,500-15,950. Nifty surpassed the crucial resistance of 16,000, where huge Call writing was happening in derivative segment. Nifty has shifted its trend from the consolidation to bullish.
 

Immediate target for Nifty is seen at 16,300-16,400 range while support has shifted up to 15,950 in Nifty.

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On the week ended July 3rd, 2021, the sttock broke out from the bullish inverted head and shoulder pattern