Trade setup for Tuesday, April 5: The Nifty50 may continue to rise in the short term, say experts. Here's what the technical charts suggest for the coming session.
Indian equity benchmarks scaled 11-week closing highs on Monday amid broad-based gains led by the HDFC twins, which jumped after the companies announced a mega-merger. Globally, news flow on the Russia-Ukraine war -- which is in its sixth week -- kept investors on the back foot.
What do the charts suggest for Dalal Street now?
The Nifty50 has confirmed the breakout of a bullish engulfing pattern and moved above its prior swing highs, according to Sachin Gupta, AVP-Research at Choice Broking. (Check out key factors to track this week)