Indian equity benchmarks are poised to continue their upward trajectory as the Nifty 50 approaches a pivotal technical resistance zone near its 200-day exponential moving average.
A decisive break above this level could unlock further upside momentum for the broader market, according to technical analysis from Choice Broking.
The rally gained steam late last week, driven by strong performance in heavyweight sectors including private banking and energy.
Shares of Reliance Industries and major private lenders led the charge, pushing the Sensex and Nifty 50 to close the holiday-shortened week on a positive note.
This marks the third consecutive session of gains, reinforcing the bullish sentiment that has characterized recent trading.
Market participants are closely watching the 200-day EMA as a key inflection point.