Nifty recorded another strong session hitting fresh lifetime highs on Friday. In fact, the index formed a bullish engulfing pattern once again on the daily chart, which provides confirmation that the current upswing is likely to extend further.
Support level continues to get upgraded, new support is seen around 10,780 levels. While Nifty has its eye on the 11,000 mark in the coming week.
Bank Nifty, on the other hand, has broken out from a fresh flag pattern on the hourly chart. Projections of the breakout indicate that the index has a potential to rally towards the 27,200 levels in the near term, while support has now been upgraded to 26,410 marks.
The Nifty IT index further gained momentum as the index once again hit all-time high levels.
A stock like HCL Tech, TCS and Wipro were among the top gainers while Infy ended with losses on Friday.
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