Street Signs: Nifty50 rises, Whirlpool of India may face F&O axe, and more

NSE Nifty50's sharp rebound from its 200-day moving average of 17,400 is what is giving technical analysts the requisite confidence

Nifty on the up and up after pull-back

After logging its biggest single-day gain in nearly four months, the benchmark National Stock Exchange Nifty50 is seen moving even higher. A sharp rebound from its 200-day moving average of 17,400 is what is giving technical analysts the requisite confidence. The Nifty last closed at 17,594 on Friday. “On the daily chart, the Nifty has given a consolidation breakout, suggesting a rise in optimism. The Nifty may move higher once it moves above 17,650; at the higher end, resistance is visible at 17,800. At the lower end, support is visible at 17,470,”