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.
Monthly options data suggested that the 26,000 level is expected to be a crucial zone for determining further direction in the Nifty 50.
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If the Nifty 50 manages to defend its previous day’s low (25,876), a rebound toward 26,000 is possible in the upcoming sessions, and only sustaining above this level can give strength to the index for a move toward the 26,100 hurdle, while the immediate support is placed at 25,800.
The market may see range-bound trading until it trades below the October high. Below are some short-term trading ideas to consider.
Until the Nifty 50 decisively crosses its 26,100 hurdle, consolidation is likely to continue, with immediate support at the 25,800–25,700 zone, followed by 25,500 as a crucial support. Conversely, sustaining above the hurdle can open the door for 26,300–26,500 levels, according to experts.
The monthly options data indicated that the 26,000 level is expected to be a crucial zone for further directional movement in the Nifty 50. Until then, the index may remain range-bound with key support at the 25,500 level.
Sustaining above the 26,000 zone can take the Nifty 50 index toward the October high (26,100), and above it, 26,277 (record high) is the level to watch. However, support is placed at the 25,900–25,800 zone, experts said.
The positive trend is expected to continue given the healthy momentum and supportive technical indicators. Below are some short-term trading ideas to consider.
According to experts, if the Nifty 50 sustains this zone, 26,100 (the October high) will be the immediate level to watch, followed by 26,300 (near the record high) in the upcoming sessions. The immediate support has also shifted higher to the 25,900–25,800 zone.
The Nifty 50 formed a bullish candle with a minor lower shadow on the daily timeframe—indicating a healthy trend with buying interest at lower levels, as well as signalling continuation of the uptrend.
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The market trend remains upward, but it requires a strong and sustainable close above last week's high for further upward movement. Below are some short-term trading ideas to consider.
If the Nifty 50 reclaims and sustains above Friday’s high (26,000), 26,100 is the immediate resistance to watch, followed by 26,300 as the crucial hurdle. However, the immediate support zone is 25,800–25,700, followed by 25,450 as the crucial support, experts said.
As long as the Nifty 50 sustains above 25,700, the upward journey toward the 26,000–26,100 hurdle is possible in the upcoming sessions; however, falling below this can bring the index toward the crucial support of the 25,500–25,450 zone, according to experts.
Overall, technical patterns suggest Bank Nifty is potentially entering the 3rd wave higher, said Ashish Kyal.
In Iron Fly, sell the option that holds the highest value that is expected to go down with time.
Sudeep Shah believes the Nifty Pharma index is likely to give the trendline breakout in the next couple of trading sessions.
The weekly options data indicated 26,000 as the immediate hurdle for the Nifty 50, with the 25,800-25,700 range as support.
If the Nifty 50 manages to hold above 25,800 (Thursday’s low) in the upcoming sessions, the 26,000–26,100 levels are the ones to watch. However, below this level, 25,700–25,500 remains the immediate key support zone, experts said.
The market is expected to remain rangebound until it decisively surpasses the previous day’s high. Below are some short-term trading ideas to consider.
For a further uptrend toward the 26,100–26,200 zone, the Nifty 50 needs to climb and sustain above 26,000. Until then, consolidation and range-bound trading may be seen, with support at 25,800–25,700, according to experts.
The weekly options data indicated that the Nifty 50 is likely to face resistance at 26,000–26,200, with support at 25,800 in the short term.
If the Nifty 50 defends the 25,800–25,700 zone, the uptrend toward 26,000 and 26,100 (October high) can continue in the upcoming sessions; however, falling below it can open the door for 25,500, experts said.
