Nifty may be nearing the end of its correction, with strong support around 25,200–25,300, said analysts. A move above 25,550–25,660 could revive the uptrend towards 25,800–26,000, while a break below 25,000–25,300 may extend the decline. NAGARAJ SHETTI SENIOR TECHNICAL RESEARCH ANALYST, HDFC SECURITIES Where is Nifty Headed? A bull candle with a long lower shadow … Read more
Nifty ended the week with gains as it bounced back from the key support levels of around 24,400, but it could struggle to cross the threshold of 25,000. Analysts caution that volatility may persist as the index consolidates below 25,000 level, making stock-specific strategies more effective than index-based bets. AJIT MISHRA SVP-RESEARCH, RELIGARE BROKING Where … Read more
“We saw Nifty break below the key support level of 24,500, which has been acting as a strong base since May. So, crossing back above 24,500 will be crucial because as long as we trade below it, the market may remain tentative. Last Monday also started strong but fizzled out at higher levels. So reclaiming … Read more
“As far as supports are concerned for Nifty, I believe there is a support around 22,200 followed by 22,000 which is the support zone for Nifty,” says Sneha Seth, Angel One.It is just a deep sea of red across the screen and both the benchmark indices are not holding up well. Which are the next … Read more
On the daily chart, the Nifty index formed a strong bearish engulfing candle, reflecting significant selling pressure from higher levels following a gap-up opening. This pattern indicates the potential for continued bearish momentum, particularly if key support levels are breached. The index failed to sustain higher levels and closed near the 23,000 mark, signaling caution. … Read more
The negative pattern like lower tops and bottoms is still intact in Nifty charts and further upside bounce with a lack of strength could probably confirm the lower top reversal at the highs. The short-term trend of Nifty is positive but the market is lacking the strength to witness sharp upside breakouts of the hurdle. … Read more
Indian headline indices closed in the green on Friday aided by pharma and auto stocks. While Nifty finished at 24,131.10, gaining 216.95 points or 0.91%, the 30-stock S&P BSE Sensex settled at 79,802.79, higher by 759.05 points or 0.96%. This week was marked by consolidation as prices remained range-bound after Monday’s gap-up, Rajesh Bhosale, Equity … Read more