How long will the GST rate rejig-led rally continue? Here's what charts say

Technical charts suggest that the Nifty needs to overcome the hurdle at 25,120 levels for the short-term bias to turn favourable; detailed analysis below

Equity benchmark indices rallied over 1 per cent each as investors cheered as the Indian Prime Minister hinted at major structural changes in the Goods and Services Tax (GST) in the coming few months.  During his Independence Day speech on August 15, Friday, Prime Minister Modi said the government will announce next-generation GST reforms ahead of Diwali 2025 with an aim to reduce tax burden on the common man.  Post the extended-weekend owing to Independence Day (Friday), the benchmark indices BSE Sensex and the NSE Nifty surged over 1 per cent each to 81,766 and 25,022