Indian equity benchmarks have cleared critical intermediate resistance levels, reinforcing a bullish outlook for the market.
The Nifty 50 and Sensex both rose approximately 0.9% over the past week, breaking through technical barriers that had previously capped gains.
This move follows a decisive recovery for the Nifty 50, which surged past the 24,000 mark earlier in the week after briefly slipping below it.
The rally has been broad-based, with strength evident across multiple sectors, including automotive and financials.
Technical analysts note that the breakout aligns with positive chart patterns, suggesting sustained upward momentum.
Foreign portfolio investors (FPIs) have been a key driver of the recent buying trend, providing liquidity and confidence to the market.