The Nifty ended in the green for the eighth consecutive session on Friday, marking its longest winning streak in over a year. On a weekly basis, both the Nifty and the Sensex posted a second week of rally.
The NSE Nifty 50 settled 108.5 points or 0.43% higher at 25,114 and the BSE Sensex closed 355.97 points or 0.44% up at 81,904.7. The Nifty rose as much as 0.54% during the day to 25,139.45, while the Sensex was also up 0.54% to 81,992.85.
The index appears to be consolidating its recent gains, gradually forming a base. As long as it sustains above 24,850, the undertone remains constructive, according to Rupak De, senior technical analyst at LKP Securities.
