Nifty rose for the fifth consecutive session on March 14 and settled 240.85 points higher at 16,871. The index has surged more than 1,200 points in the last 5 trading sessions. It managed to reclaim the level above 20 and 200 of the Exponential Moving Average (EMA), which is currently placed at 16,725 and 16,693 respectively.

Last week, Nifty formed a bullish “engulfing” pattern on weekly chart and in the first session this week, the bullish implications of the pattern that received was activated, as nifty surpassed high last week. This confirms the bullish reversal trend on the short-term chart of Nifty.

Nifty has also exceeded the key resistance 16,800. For the last two trading sessions, Nifty has found support for the 5-day EMA company, which is currently placed at 16,597.

The short-term trend of Nifty and Bank Nifty seems to have reversed upside down and the market is expected to extend the current pullback. On the upside, Nifty has received a resistance in the 17.050-17,100 zone, where the 50-day EMA and Super Daily indicators are placed.

The relative power index (RSI) oscillator shows positive divergence and has now reached above the benchmark level of 50 on the Nifty daily chart. This shows that there is a good chance that Nifty will continue to increase further than the current level.

Here are three buy calls for the next 2-3 weeks:

Wipro: Buy | LTP: RS 598 | Stop-Loss: RS 570 | Target: RS 645 | Back: 8 percent

Stocks rose 2 percent with higher volumes and successfully surpassed important resistance from 50 days of EMA. Exchange has also surpassed the top resistance previously placed at RS 590 on the daily chart.

The IT index has been to a bullish and equally expected momentum to continue for the coming days.

Indicators and oscillators such as direction movement index (DMI), RSI and the moving average divergence convergence (MACD) has provided fresh buy signals on short-term chart.

Inox Leisure: Buy | LTP: RS 435.25 | Stop-Loss: RS 395 | Target: RS 530 | Back: 22 percent

Downward trends The breakout line is seen on the Daily Chart. Stocks have surpassed the previous resistance of RS 437.70 on the daily chart. Breakout prices are accompanied by a volume surge.

Stocks have found support at 50 days that ema. Indicators such as DMI and MACD have shown the power above is currently moving. Stocks are placed above all moving average parameters important, showing uptrends on all time frames.

Amber Business: Buy | LTP: RS 3692 | Stop-Loss: RS 3,400 | Target: RS 4150 | Back: 12 percent

Stock has formed a higher peak and a higher ass on the daily chart. Stocks are on the verge of registering new all time high above RS 3,925.

Stocks are placed above all important moving averages, which show a bullish trend on all time frames. Last week, Nifty durable consumer index formed bullish pattern “piercing line” candlestick on weekly charts. Indicators and oscillators have turned bullish on the daily chart.