Nifty closed at 12,461.05 after registering a fresh record high of 12,474.05 on November 9.

In the last six sessions, Nifty has rallied from 11,535 to 12,474, rising of 939 points or 8 percent.

In the same period, Bank Nifty outperformed Nifty with a huge margin, by surging 17 percent. This is the highest rise in 6 sessions for Bank Nifty since June 3, 2020, when it rallied more than 20 percent in the same duration.

During the last 6 sessions, two healthy gap-up sessions have been registered, which is a very good sign for the bulls.

By surpassing the hurdle of 12,025, Nifty has broken out from the consolidation which held for the previous three weeks.

The level around 12,025 also happened to be the triple top resistance, which has been taken out on the closing basis.

This move has also resulted in the breakout from the flag pattern on the daily chart. A flag pattern is the continuation of an uptrend and indicates the fresh buying momentum in the Nifty.