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Bulls were seen roaring on Tuesday with the BSE Sensex and NSE Nifty 50 topping 1 per cent rise and scaling their respective significant resistances of 59,000 and 17,500-levels. On Monday too the key benchmark indices had logged firm gains.
Technically, overcoming of key resistances after a brief period of sideway movement points towards a positive trigger. The BSE Sensex and Nifty have thus far climbed 2 per cent in the last two trading sessions on a weekly scale; such move was last seen in August 2022 that further accelerated into an additional 1.7 per cent gain.
Such a similar positive move can emerge this time too, as currenly only 10 stocks in the Nifty 500 index trade in the
