Bank Nifty, on the other hand, has been a laggard and has failed to pass the 25750 resistance zone which is also the neckline of the Cup and Handle pattern on the smaller time frame. A break past the neckline would confirm a fresh up move for the index. Crucial support is placed around the 25500 zone.
Nifty IT was the star performer during the week and our daily chart analysis indicates that the index has broken out from a Symmetrical Triangle pattern. Even the heavyweights like Infosys, TCS, and Wipro are showing signs of an upthrust.
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