Dalal Street Week Ahead: Nifty must take out 17,800 level for any meaningful rally

The pattern analysis of the weekly chart for Nifty shows that the index presently trades above all its key moving averages. After forming a lifetime high at 18,600 levels, Nifty has been in a downward sloping corrective trading zone. In the process, it has formed marginal lower highs.

Dalal Street Week Ahead: Nifty must take out 17,800 level for any meaningful rally
The pattern analysis of the weekly chart for Nifty shows that the index presently trades above all its key moving averages. After forming a lifetime high at 18,600 levels, Nifty has been in a downward sloping corrective trading zone. In the process, it has formed marginal lower highs.