Given the strong technical and momentum indicators, the Nifty 50 is likely to hit a record high and the 26,350 zone, provided it surpasses and sustains above the October high (26,247), while support is placed at 26,000.
Given the healthy trend, the market may attempt to touch a record high amid possible consolidation. Below are some short-term trading ideas to consider.
As long as the 26,000 support holds on the Nifty 50, a rally toward the record high near 26,300, followed by 26,500, is possible in the upcoming sessions despite intermittent consolidation, according to experts.
Weekly options data suggests that 26,000 is expected to be strong immediate support for the Nifty 50, with a target of 26,500.
According to experts, the Nifty 50 is likely to march toward 26,000–26,100 if it holds the 25,850 support, but falling below it can give strength to bears for a move toward 25,700.
The market is likely to see rangebound trading until it trades below last week's high. Below are some short-term trading ideas to consider.
If the Nifty 50 decisively breaks below 25,850, a move toward 25,700 and 25,500 cannot be ruled out amid consolidation; however, sustaining above it could bring resistance at 26,000–26,100, experts said.
Weekly options data suggested that 26,000 is likely to be the crucial level for further direction in the Nifty 50, with resistance at 26,200 and support at 25,500.
The Nifty is expected to trade in the range of 25,850-26,250 (previous week’s range) in the upcoming sessions. A decisive break on either side may give a clear direction, as a move below this range could strengthen the bears.
Consolidation is expected to continue in the market due to a lack of triggers. Below are some short-term trading ideas to consider.
The next support for the Nifty 50 is placed at 25,850, the lower end of the previous week's range (25,850–26,250) and the midline of the Bollinger Bands. If the index decisively breaks this level, bears may turn stronger and a fall toward 25,700 is possible. On the higher side, 26,100 and 26,250 are the hurdles to watch, experts said.
Monthly options data indicated that the Nifty may trade in the 25,700–26,200 range in the short term.
If the Nifty 50 reclaims and sustains above 26,100, the 26,250 level is expected to act as a crucial hurdle for further upside. On the lower side, 26,000 remains the key level to watch for any potential downward move.
The market is expected to be rangebound until it trades below the previous week’s high. Below are some short-term trading ideas to consider.
If the Nifty 50 convincingly breaks below the 26,000 mark, the 25,850–25,800 zone will be crucial to watch on the downside. On the other hand, sustaining above this range can drive the index toward 26,250, followed by 26,500, which remain the key upside targets, experts said.
Shubham Agarwal explains 3 uses on Hedging and how can that be incorporated in day-to-day trading and investments.
“The charts may be celebrating near the highs, but the broader market’s behaviour in the coming days will reveal whether this rally gains real strength, or remains a selective rise dressed up as a bull run,” said Sudeep Shah.
Monthly options data indicated that the Nifty 50 may trade in the 26,000–26,200 range in the near term, with a broader range of 25,700–26,500.
Overall, the trend remains in favour of the bulls, who can drive Nifty 50 gradually toward 26,300 (near the record high) and 26,500. However, until it surpasses the record high, consolidation may be seen with support at the 26,100–26,000 zone.
The market is expected to march toward a record high in the upcoming sessions, despite likely intermittent consolidation. Below are some short-term trading ideas to consider.
Given the strengthening momentum, experts expect the Nifty 50 to touch its record high of 26,277 soon, provided it holds 26,100 as an immediate support. Beyond this, 26,500 is the level to watch, while the sacrosanct support is placed at 25,800.
Monthly options data suggests that the Nifty 50 may march toward 26,500 in the short term, supported by the 26,000–25,900 zone.
The Nifty 50 is expected to reclaim 26,100 (October high) provided it holds the psychological 26,000 zone. Above 26,100, 26,300 (near record high) can’t be ruled out; however, immediate support is placed at the 25,950–25,850 zone, experts said.
The healthy momentum and technical indicators may drive the market beyond the October high. Below are some short-term trading ideas to consider.
If the Nifty 50 successfully crosses and consistently holds above 26,100 zone, a move toward 26,300 (near the record high) could be easily seen in the upcoming sessions. However, support is placed in the 25,750–25,850 zone, according to experts.
