Equity benchmarks scaled back to record highs in July 2018, exhibiting resilience in the face of rising trade war concerns and depreciation of the rupee against the US dollar.
The Nifty, during the previous month, rallied beyond our projected target of 10,930 for July. In the process, the index made a strong base at 10,550, which acted as a launch pad for it to rally towards its record high of 11,171.
The bullish breakout above 10,930 has resulted in a conclusion of a five-month-long triangular pattern, signalling fresh upsides in coming weeks for Nifty.
The Nifty, during the previous month, rallied beyond our projected target of 10,930 for July. In the process, the index made a strong base at 10,550, which acted as a launch pad for it to rally towards its record high of 11,171.
The bullish breakout above 10,930 has resulted in a conclusion of a five-month-long triangular pattern, signalling fresh upsides in coming weeks for Nifty.
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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-soars-over-300-points-nifty-around-11250-after-touching-record-high-2769301.html
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