Indian Indices on Longest Winning Streak in 2018

The Indian indices ended the week on a positive note with gains of 1.48%. The Nifty 50 Index opened the week in the green and raced higher on all five days of the week. In all Nifty has enjoyed consecutive gains for seven days in a row. This is its longest winning streak in 2018.

The index bounced above the 200 day moving average (DMA) in the last week of March and is racing higher since then. It has also crossed the falling channel resistance which means bulls have gained control.

However, the index is now heading in to a crucial resistance level of 10,540. The same level has led to selling pressure in the past. Would the index break out above it this time or will the bears overpower once again.

Let's find out in the next week.

To know more about what's happening in the global and Indian stock markets, you can read the detailed market update here...

Nifty On a Winning Streak

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