Nifty likely to rise further, supports at 17,400-17,450
The volatility index, India VIX, has slipped to 17.4 levels, indicating that volatility is gradually subsiding, thus providing a comfort factor to the bulls. Chart patterns suggest that the zone of 17,400-17,450 will be strong support going forward. Until the index sustains above the level of 17,400, we may witness continuation of this rally up to 17,850-17,950.
