Positive surprise from RBI was welcomed by market players and nifty future opened huge gap up in past week on Thursday trading session.From chart above one can clearly see the nifty future took support on the trendline after the breakout and is now trading well above the same.
Momentum indicator is also signs of positive uptrend in short and medium term. The volume is also supporting the chart since the triangle breakout was on higher volume.
Now week ahead Nifty future will face hurdle at 8565 once sustain this level it will run for 8650 and life time highs. On downside the supports are 8420 8380 below 8380 only if market close then any chance of downside to begin.(chances are very less)