According to experts, as long as the Nifty 50 holds 25,000 as immediate support, the rally toward 25,160, followed by 25,250, and then 25,350–25,400 is possible in the upcoming sessions. The 24,850 level is expected to act as a key support, below which selling pressure cannot be ruled out.
The market may retain its gradual upward trajectory, given healthy technical indicators. Below are some short-term trading ideas to consider.
Technical indicators signal a bullish bias, with short-term moving averages turning upward. According to experts, if the Nifty 50 sustains above 25,000—the immediate support level—then 25,170 and 25,250 are the levels to watch on the higher side in the upcoming sessions.
According to experts, as long as the Nifty 50 defends 24,850 as support, the rally toward 25,250 (immediate target), followed by 25,350–25,400, can't be ruled out
Weekly options data suggests that the 25,000–24,900 zone is expected to act as strong support, with resistance seen on the higher side at 25,100–25,200.
According to experts, after the recent rally, the Nifty 50 might consolidate; however, the overall trend remains positive. It needs to surpass and sustain above the 25,000 zone, which is a crucial level for a further sharp rally toward 25,250. On the downside, 24,850 (Monday's low) is expected to act as a support zone in the near term.
The 25,000 level is expected to be a crucial barrier for further upside toward 25,160, followed by the 25,350–25,400 zone. On the downside, support is placed at 24,800 for the Nifty 50, experts said.
The trend is expected to remain favourable for bulls despite a possible immediate consolidation following the recent rally. Below are some short-term trading ideas to consider.
The weekly options data suggests that 25,000 is expected to be a key resistance zone. Above this, 25,500 is the level to watch, with support located in the 24,900–24,800 zone.
The positive trend is expected to continue, as technical and momentum indicators signaled a bullish bias. Below are some short-term trading ideas to consider.
As long as the Nifty 50 defends the bullish gap between 24,670–24,850, an upward move toward 25,000, followed by 25,250, cannot be ruled out. On the flip side, the 24,700–24,600 zone is expected to act as a strong support area, according to experts.
If the Nifty 50 extends gains for a fourth straight session, it may face a hurdle at 24,950–25,000, beyond which the journey toward 25,250 can’t be ruled out, as long as it defends 24,750–24,700 as support, experts said.
Weekly options data suggests that the Nifty 50 is likely to target the 25,000-25,200 zone in the short term, with support at 24,800, followed by 24,500.
The Nifty 50 still traded well below the 20- and 50-day EMAs (24,750–24,800), which are crucial for further upward journey. Until then, the consolidation may continue with support at 24,500–24,450, followed by 24,300, experts said.
The market is expected to remain in consolidation mode until it reclaims all key moving averages. Below are some short-term trading ideas to consider.
According to experts, as long as the NIfty 50 trades below the 50-day EMA (24,813), consolidation is expected to continue, with immediate support at 24,465, followed by a key support level at 24,350. On the flip side, the index is expected to face a hurdle at 24,700. If it sustains above this level, 24,800 will be the next level to watch, followed by the 25,000 zone.
With FPIs holding steadfast to heavy short positions and volatility elevated, rallies could easily turn into bull traps. The technical structure continues to support a “sell-on-rise” strategy, with the possibility of Nifty testing 24,200–24,100 in the near term.
Current options data and the Put-Call Ratio (PCR) suggest that the market is likely to remain in a short-term consolidation phase, said Sudeep Shah of SBI Securities.
Slow markets are prone to slower moves and that may not even reach the target in a hurry. With Collor, Put can be moved upwards in case the Future move close to target but does not hit the target.
FII futures positioning still shows a heavy concentration of shorts around. Until this data turns more constructive or prices start to form a consistent pattern of higher highs and higher lows, the Nifty 50 is likely to remain anchored near the lower end of the Bollinger Bands, Rahul Sharma of JM Financial said.
Weekly options data suggests that the broader trading range for the Nifty 50 is expected to remain between 24,000 and 25,000, with the immediate range seen at 24,500–24,800.
The Nifty 50 must defend its Tuesday’s low (24,465, which is the key support) in the upcoming session, for further upward movement toward 24,700, followed by 24,800. Sustaining above these levels could open the door for a strong rally, experts said.
Range-bound trading is likely to be seen in the market in the upcoming sessions. Below are some short-term trading ideas to consider.
As long as the Nifty 50 holds these support levels (24,589 and 24,465), the upward journey toward the 24,700 (immediate hurdle) and then 24,800–24,850 (a crucial hurdle) remains possible in the upcoming sessions, according to experts.
Weekly options data suggest that the Nifty 50 is expected to trade in the 24,500–24,800 range in the upcoming sessions.