NIFTY Index Chart Analysis

A CORRECTION IN THE OFFING

Nifty, the benchmark index, is at a new high. Last month, the domestic fund’s massive inflow of ₹48,278.65 crore fuelled the equities to a new high. The index broke out of a five-week consolidation base with above-average volume last week. With just one distribution day, the index looks very strongly bullish, and all the dips were bought in. During the last 14 days, the index has been making higher high candles, which shows strength in the trend.