Financial institution Nifty closed the week at 58,518, up 641 factors, and has shaped a bullish candle on the weekly chart, signalling a constructive bias. After breaking above horizontal resistance at 57,600, the index is consolidating within the 58,600–57,600 band, with a sustained transfer above 58,600 more likely to push it in the direction of 59,000–59,500 and a break under 58,000 exposing 57,500–57,200, whereas each day and weekly RSI maintain firmly above 50.
