DSIJ Mindshare

Bitcoin is once again turning heads, as a series of technical and institutional developments suggest it’s on the verge of another monumental rally.

The stock drew the attention of chartists due to its positioning within the higher range of a long-term consolidation pattern, accompanied by significant trading volumes. This positioning suggests the potential for a technical breakout of a continuation price pattern.

From the lows of the Covid pandemic at 7511.10 level, it delivered multibagger returns of nearly 170 per cent, reaching the recent all-time high at 20,222.45 level. 

The Indian stock market maintained its upward trajectory, with the Sensex recording an impressive gain of 220 points and the Nifty trading 60 points higher, indicating continued investor confidence.

Nifty witnessed strong follow-up buying after the strong recovery of last trading session. It closed 178.20 points higher at 18,499.35 level. Shree cements, Reliance industries and Sun pharma were the top gainers while ONGC, Grasim and Bajaj-Auto were the top losers amongst Nifty 50 stocks.