The Nifty 50 is expected to advance toward the 25,200–25,300 zone in the upcoming sessions, followed by the 25,500–25,700 range as the next potential target. On the downside, support is placed at 24,860 (the December 2024 swing high), followed by 24,500 as a crucial support level, according to experts.
Back-to-back long bullish candle formations over the last four sessions, with only minor weakness in between, indicate that the bulls are back in control.
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Momentum remains favourable for the bulls, who can gradually drive the Nifty 50 toward the 24,800–25,000 zone in the upcoming sessions. The immediate support is placed at 24,500, followed by 24,380, which is a crucial support level.
Given the supportive technical indicators, with the Nifty 50 trading well above all key moving averages, the bulls are likely to gradually drive the Nifty 50 toward the 24,800–25,000 zone in the upcoming sessions, as long as the index defends the crucial support zone at 24,380. The immediate support is placed at 24,500, according to experts.
Market sentiment is expected to remain positive. Below are some short-term trading ideas to consider.
According to experts, the Nifty 50 is gradually expected to move toward 25,000, and sustaining above this level could open the door to the 25,200–25,300 zone. However, 24,500 remains the immediate support.
According to experts, the Nifty 50 is expected to consolidate in the range of 24,380–25,000 before showing a strong trend in either direction. A break above 25,000 could open doors for levels around 25,200–25,300, while a fall below 24,380 may see the bears becoming active.
In the upcoming sessions, the Nifty 50 is likely to gradually move northward toward the 24,700–24,800 levels amid consolidation. Sustaining above this range could open doors for the 25,000 mark, which remains the key hurdle. However, if the index corrects, 24,380 is expected to act as the key support.
Given supportive technical indicators and the easing of most concerns, the index is likely to gain momentum despite intermittent consolidation. Below are some short-term trading ideas to consider.
Weekly options data indicate that the Nifty may trade within a 24,000–25,000 range in the short term. A decisive breakout on either side could determine the next directional move.
This is also a good time to rotate capital into laggards with improving structures, rather than stocks that have already doubled or tripled in the recent run-up, said Rahul Ghose of Hedged.
The Nifty 50 may witness some consolidation or profit booking with support at 24,600, after a nearly 4 percent rally in the previous session. However, the overall trend remains strong, and the index may gradually climb toward the 25,200–25,300 zone in the short term, experts said.
According to experts, the Nifty 50 is expected to move toward 25,200 in the upcoming sessions, but before that it may see some consolidation and profit booking with key support of 24,590 considering the strong rally of Monday.
Overall, the trend remains positive, though some profit booking and consolidation in the upcoming sessions can't be ruled out after the robust gains of the previous session. Below are some short-term trading ideas to consider.
Weekly options data indicated that the next resistance levels for the Nifty 50 are 25,000–25,500, while support is seen around 24,500.
Despite the uncertainty following rapid escalation followed by a quick ceasefire, the technicals suggest that there is potential for a bullish turnaround.
As long as the Nifty 50 trades above the previous swing low of 23,850, rangebound trading cannot be ruled out. A fall below this level may drag the index toward 23,500–23,600, while sustaining above it could drive the index toward 24,600, the key hurdle on the higher side.
Rangebound trading is expected to continue in the upcoming sessions. Below are some short-term trading ideas to consider.
The Nifty 50 remains within the range of 23,850–24,600 despite Friday’s correction. A decisive breakdown below the lower end of the range could drive the index down to the 23,600–23,500 zone in the upcoming sessions. Conversely, a breakout above 24,600 could resume a new leg of the upmove, according to experts.
The appearance of a Bearish Engulfing candle on the weekly chart sends a clear message - the bulls are stepping back, and the market is showing signs of fatigue.
Talking about crucial levels, the zone of 23,850-23,800 will act as a crucial support for the Nifty 50 next week. However, on the upside, the zone of 24,250-24,300 will act as a crucial hurdle for the index, said Sudeep Shah of SBI Securities.
Trade Adjustments means modifications done to the original position to accommodate the move that happened after the trade was taken.
Looking at the broader bullish structure, Dharmesh Shah of ICICI Securities believes there is still steam left in the defence pack