Street signs: Nifty may scale 13,000-mark, PSE trade gains momentum & more

13k on the cards

The benchmark Nifty has rallied nearly 10 per cent this month. The index on Saturday closed at 12,780. Analysts believe the markets remain in the control of bulls and the Nifty will soon scale the 13,000-mark. “The Nifty 50 index is forming a symmetrical triangle on the intra-day chart. It's a bullish continuation formation that would lift the market towards the psychological mark of 13,000,” said Shrikant Chouhan, Executive Vice President, Kotak Securities. Analysts say the factors behind the strong momentum are sharp capital inflows; rally in the banking sector, which has a significant influence on the