If the Nifty 50 defends the 26,200 level, a possible move toward 26,300–26,400 cannot be ruled out, followed by 26,500. However, a decisive fall below this level could drag the index toward 26,000, which is the crucial support.
The market may remain range-bound until it trades below Monday’s high. Below are some short-term trading ideas to consider.
As long as the Nifty 50 holds above 26,200, the possibility of a rebound towards the 26,400–26,500 zone cannot be ruled out. However, a decisive break below this level could push the index into a consolidation phase, with 26,000 emerging as a crucial support.
The weekly options data suggested that Nifty may face resistance in the 26,400–26,500 zone, while support is placed at 26,200–26,000 levels.
One can certainly expect Nifty 50 to inch higher so long as it stays above 26,000 level, said Milan Vaishnav.
If the Nifty 50 manages to climb and sustain above the 26,350 zone, a rally toward 26,500 is possible. However, if it sustains below 26,350, consolidation may occur, with immediate support at 26,200, followed by 26,000 as a key support level.
The trend may remain positive despite intermittent consolidation and minor profit booking. Below are some short-term trading ideas to consider.
The Nifty 50 needs to decisively surpass 26,350 for a move towards 26,500–26,700. Until then, it may consolidate with range-bound trading, with the 26,100–26,000 zone acting as a key support, according to experts.
Sudeep Shah believes NHPC and Bosch look well poised to extend their upmove in the coming week, but advised caution on ITC after sharp fall last week.
Weekly options data also indicated that the Nifty 50 is expected to march toward the 26,500–27,000 range, with support placed in the 26,200–26,000 zone.
The Nifty 50 may gradually climb toward the 26,350–26,400 levels, but only after it convincingly surpasses and holds the 26,200 zone. Until then, consolidation may continue with support at the 26,050–26,000 levels.
Experts believe the Nifty 50 is expected to give a strong breakout above 26,200 and march toward the 26,350–26,400 zone in the upcoming sessions. Until then, minor consolidation may continue, with immediate key support placed in the 26,050–26,000 zone.
According to experts, the Nifty 50 must decisively surpass and hold above the falling resistance trendline, which lies slightly above the 26,200 zone, for a move toward the record high of 26,326.
Considering the bullish bias, the Nifty 50 is expected to attempt to reclaim 26,200, but the sustainability of the move is the key factor to watch thereafter. Holding above this level can open the door for a record high.
The positive momentum is expected to sustain for a few more sessions. Below are some short-term trading ideas to consider.
As long as the Nifty 50 sustains above 26,000, 26,200—the immediate key resistance zone—remains the level to watch. Holding above it can open the door for a new high.
According to experts, the Nifty 50 is expected to march toward a record high of 26,326, followed by 26,500 in the upcoming sessions, provided it closes and sustains above the hurdle of 26,200.
A decisive close above 26,200 could force bears into sharp unwinding, extending the rally toward 26,500–26,700 on the Nifty 50.
The Nifty 50 needs to scale above 26,000, as above it, 26,100–26,200 are the levels to watch. However, sustaining below this level can keep the Nifty 50 in a consolidative mode, with support at 25,900–25,800, experts said.
Range-bound trading is likely to continue in the upcoming sessions. Below are some short-term trading ideas to consider.
In case of rebound, an upward move toward the 26,100–26,300 zone is possible on the Nifty 50. However, failure to confirm a rebound in the following session could drive the index down toward the 25,800–25,700 zone, experts said.
The 26,000–26,100 zone is expected to act as a hurdle on the upside for the Nifty 50, while support is placed in the 25,850–25,800 range, according to experts.
In case of a further fall, the Nifty 50 may take support at 25,800 (50-day EMA) and around 25,700 (December low). However, a decisive break below these levels can strengthen the bears.
The market is expected to remain weak amid choppy movement in the short term. Below are some short-term trading ideas to consider.
The next support is placed at the 50 EMA (25,830), followed by 25,726 as a key support zone. If the Nifty 50 breaks below 25,726, the higher high–higher low formation could get negated and bears may take control.
