Nifty is in consolidation mode for last two months. Recently we gave buy on Nifty around 12300 which was major trendline support, now its trading around 14900. As per daily chart Nifty above 15025 can test 15250 & 15280 will be key for any fresh big move. On sustaining above 15250-80 Nifty can rally further towards 16500 in short to medium term. Nifty has successfully crossed 20dMA and already trading above 50 &100dMA. Indicators like RSI, William %R, Stochastic,ROC are already in buy mode. However, MACD divergence is still awaited.
Have a look at daily chart
