The Nifty had a gap-up opening today and gained bullish momentum for a straight 3rd session. It broke the key level of 23000 and sustained above it hence closing near 23190. The Bank Nifty was also up by 0.72%. However, the Nifty is continuing its bullish momentum for 3 days, still, the trend reversal is not confirmed. In our opinion, we can expect the proper bullish trend only after Nifty closes above 23800. Until below this level, the Nifty is still considered bearish.
