The trend is likely to remain favourable for the bulls, but some consolidation can't be ruled out. Below are some short-term trading ideas to consider.
Experts expect the Nifty 50 to reclaim 25,550 and then 25,669 in the upcoming sessions, provided it holds the 25,150–25,000 zone as a crucial support area. A move below this support could invite some selling pressure.
The weekly options data indicates that Nifty 50 may face the next resistance at 25,500, followed by 26,000. However, the 25,300-25,200 zone could act as near-term support.
Given the strong trend backed by bullish technical and momentum indicators, the Nifty 50 is likely to march toward the 25,350–25,400 zone, followed by 25,550 in the upcoming sessions, provided 25,150 acts as support; below it, 25,000 remains a crucial support.
The market is expected to maintain bullish momentum after surpassing the August swing high. Below are some short-term trading ideas to consider.
According to experts, a decisive close above 25,250—which was tested intraday on Tuesday—could open the door for a rally toward 25,400 and 25,550 in the upcoming sessions. However, any bouts of profit booking in Nifty 50 are expected to be used as buying opportunities, with immediate support at 25,150, followed by a key support zone in the 25,000–24,850 range.
Following Monday’s rally, weekly options data also pointed to 26,000 as the next potential target for the Nifty 50, with key support in the 25,200–25,000 zone.
The short-term view is positive in anticipation of short covering; however, one needs to be cautiously bullish unless a complete trend reversal happens.
The market may remain consolidative with rangebound trading until the August high is decisively broken. Below are some short-term trading ideas to consider.
Technical and momentum indicators are still supportive of the ongoing uptrend. On the higher side, 25,150 is expected to be the immediate key hurdle. A decisive break above this level could open the door for a healthy upward move, according to experts.
Despite the pause, the overall uptrend remains intact as long as the Nifty 50 defends the 25,000 level in upcoming sessions. A successful hold above this level could open the door to 25,154—a crucial hurdle for any further upward movement—followed by 25,250.
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The June swing high may not sustain, if Nifty fails to have broader participation, said Rahul Ghose.
The market may consolidate, but overall, the trend remains favourable for bulls. Below are some short-term trading ideas to consider.
As long as the Nifty 50 holds above the 25,000 level, the 25,250–25,550 range could be the next levels to watch. However, if it slips below this mark, the 24,800 level—where the 20-day and 50-day EMAs as well as the midline of the Bollinger Bands converge—could act as a crucial support, according to experts.
The Nifty 50 index is comfortably trading above its key short-term and long-term moving averages, both of which are beginning to trend upward — a positive sign for the bulls.
Expectation of not rising for the month can also be monetized by Selling a Call Option of strike price closest to the price at the beginning of the month.
The India VIX, generally known as the fear gauge, dropped further and ended at an all-time closing low, adding to market stability and providing comfort for bulls amid reduced uncertainty and low volatility. The index declined 2.29 percent to 10.12, while for the week, it was down 6.1 percent.
If the Nifty sustains above 25,000, the next target to watch is 25,150 (August high), followed by 25,250 as key hurdle. However, the 24,900–24,800 range could act as a key support zone, experts said.
The market is expected to extend its bullish bias, given favourable technical and momentum indicators. Below are some short-term trading ideas to consider.
According to experts, sustaining above the 25,000 level in upcoming sessions is crucial for an uptrend toward the immediate hurdle at the 25,200–25,250 zone, followed by 25,500. On the downside, the immediate key support is placed at 24,900–24,800 levels for the NIfty 50.
Weekly options data indicated that the Nifty is likely to trade in the 24,800–25,500 range in the upcoming sessions.
With trading above all key moving averages and bullish crossovers in momentum indicators and oscillators, the Nifty 50 is expected to sustain the uptrend despite any intermittent consolidation and may be heading toward 25,200–25,250 in the near term, provided it decisively clears 25,000. However, support is placed at 24,800–24,750.
The trend is likely to be upward despite consolidation (if any), as frontline indices now trade above all key moving averages. Below are some short-term trading ideas to consider.
If the Nifty 50 decisively closes above 25,000, the lower high–lower low formation will be negated, and a rally toward 25,150–25,250 cannot be ruled out. However, on the downside, 24,900–24,800 is expected to act as immediate key support, according to experts.