The Nifty50 Hit Historic High In Opening Trade In Wednesday’s Session

The Nifty50 hit historic high in opening trade in Wednesday’s session and closed at historic levels of 10,295.35. The Nifty Bank rallied 4 percent on Wednesday session with strong volumes seen on charts, after the government announced Rs 2.11 lakh crore recapitalisation for PSU banks.

Technically, the Nifty has given a double bottom breakout last week only as mentioned in the earlier article and in the last session, the index broke again forming a bullish Flag pattern adding strong conviction of it heading towards 10,600.

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