The Nifty 50 is expected to face resistance at 23,000–23,200, followed by 23,500. However, immediate support is placed at 22,600, followed by the crucial support of 22,450. Meanwhile, the 53,000–53,300 range is likely to act as resistance for the Bank Nifty, followed by 54,000–54,200 as a crucial hurdle.
The market may attempt a rebound after a sharp correction, but sustainability is key to watch. Below are some short-term trading ideas to consider.
In the upcoming monthly derivatives contracts expiry session, the previous day’s lows near 22,600 and 22,450 are expected to be at risk; below these levels, the critical support stands at 22,300. If the index decisively breaks this level, a fall toward 21,700 cannot be ruled out.
Given the current price structure and prevailing trend, Sudeep Shah continues to recommend a “sell on rise” strategy, as any short term pullbacks are likely to remain corrective in nature rather than mark the beginning of a sustainable trend reversal.
VIX does not tell you which direction the market will move. It tells you how wildly it might move.
The India VIX spiked 8.8 percent to 26.8 and approached Monday’s high, signalling major discomfort for bulls. The risk for bulls may increase further if it rises sharply from current levels.
The 23,000–22,900 zone is expected to act as crucial support in the upcoming sessions, as a fall below this level could drag the Nifty 50 towards Monday’s low. On the higher side, the 23,500–23,600 zone may act as a hurdle.
The market is likely to remain range-bound with a negative bias until there is positive news from US–Iran negotiations. Below are some short-term trading ideas to consider.
Nifty needs to decisively surpass and sustain above 23,850 to negate the lower high–lower low formation for a bullish confirmation. Until then, consolidation and range-bound trading may continue, with immediate support placed in the 23,000–22,900 zone.
If the Nifty 50 consolidates, Milan Vaishnav expects the 23,000 level to stay defended.
In the immediate term, the 23,500–23,600 zone is expected to act as key resistance for the Nifty 50. However, support is placed around the 23,000 zone, according to experts.
Overall, bears continue to maintain a strong hold on the market, with the lower high–lower low structure intact.
The market is expected to undergo consolidation with range-bound trading over the next couple of sessions. Below are some short-term trading ideas to consider.
Follow-up buying is necessary to ensure some stability, which could help the Nifty 50 face immediate resistance at 23,000–23,100. However, in case of a reversal, the 22,700–22,600 zone can act as immediate support, according to experts.
Monthly options data suggests that the Nifty 50 is likely to remain within a broad range of 22,500–23,500 in the short term. Within this range, the 23,000 level may act as a crucial pivot for directional movement on either side.
Oversold momentum indicators, along with a bullish divergence in the RSI, signal a potential short-term recovery in the market. Hence, the Nifty 50 may face resistance in the 23,000–23,300 range, while support is placed at 22,500–22,400.
Hopes of Iran war de-escalation may drive a sharp market rebound in the upcoming session. Below are some short-term trading ideas to consider.
Experts expect the Nifty 50 to rebound in the upcoming session, with an immediate hurdle at 23,000, followed by 23,200. However, the sustainability of any such rally will be key to watch, given the overall bearish setup.
If Nifty 50 decisively breaks previous week's low, a fall towards 22,700 cannot be ruled out; however, 23,400 can act as a resistance zone.
Despite this bounce back, the market is likely to be dominated by bears, with the previous week's low at risk. Below are some short-term trading ideas to consider.
According to experts, 22,900 is expected to be the immediate key support for Nifty in upcoming sessions, as a decisive break below it can drag the index down to 22,700. However, in case of a bounce, the 23,200–23,400 zone can act as resistance, followed by 23,500 as the key hurdle.
Indian defence companies, for the first time in decades, are not just participants they are contenders. And if this cycle plays out the way structural shifts typically do, what lies ahead is not just growth.
On the charts, Nifty faces strong resistance at 23,345–23,380, and until this zone is decisively breached alongside improvement in FII positioning, the broader undertone is likely to remain cautious with a sell-on-rise approach, said Sudeep Shah.
When PCR OI is rising, sentiment is bullish and prices tend to follow. When PCR OI is falling, sentiment is bearish and prices tend to drift lower.