Markets end at record high today, Nifty closes above 13350 on healthy inflows by FII and hopes for a coronavirus vaccine
The Market breadth was in favour of bulls during the last hour, the advance-decline ratio was at 3:1. The Nifty continued with its positive momentum from last week. As a result the index steadily rose on December 7. The index has scaled above its daily upper Bollinger Band and is attempting to push the bands into an expansion phase. Once the bands start expansion, it will assist price action on the way up. On the higher side, the immediate hurdle zone is at 13380-13400. Overall, the index is expected to march towards 13700 in the short term. On the other hand, the support zone shifts higher to 13200-13250.
The hourly momentum indicator is bullish. Market breadth was positive with 1385 advances and 528 declines on the National Stock Exchange: Reuters