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Nifty climbs the first rung of mkt ladder
Banking stocks lifted the benchmark Nifty last week, with the index rising 1 per cent to close at 24,894, nudging the near-term market tone into mildly positive territory. Technical experts observed that the Nifty’s close above its 100-day exponential moving average indicates underlying strength, although resistance remains near the 25,000–25,150 range. “The index holds firm above 24,600, with sentiment positive as long as this base sustains,” said Ponmudi R, founder and chief executive officer of Enrich Money. Vatsal Bhuva, a technical analyst at LKP Securities, pointed out that strong ‘put writing’ (an
