NIFTY 50 may rise to 25124.00 - 25687.00

22614.00 is our pivot point.

Our preference

The upside prevails as long as 22614 is support.

Alternative scenario

The downside breakout of 22614 would call for 21673 and 21112.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. NIFTY 50 Index is trading above both its 20 and 50 period moving average (respectively at 23083.20 and 22679.50).

Supports and resistances

26250.00 **

25687.00 *

25124.00 **

24564.00

23384.90 last

22983.00

22614.00 **

21673.00 *

21112.00 **

Number of asterisks represents the strength of support and resistance levels.