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Momentum indicators aligned with the rally, while the index sustained above all key moving averages. Hence, the benchmark index may rally toward the 26,000–26,200 levels in the upcoming sessions, provided it defends 25,780 (Monday’s low).
Weekly options data also suggested the next resistance for the Nifty 50 at the 26,000 mark, with immediate support at 25,800.
Experts expect the Nifty 50 to march toward the 25,800–26,000 zone, with crucial support placed at 25,500–25,450, below which bears may come into strong action.
The market may maintain a positive trend following the announcement of the interim trade agreement between the US and India. Below are some short-term trading ideas to consider.
Technically, the Nifty 50 is expected to face strong resistance in the 25,800–26,000 zone, as only above this level is a major upmove toward the previous week’s high possible. However, on the lower side, 25,500 is expected to be a crucial support, experts said.
Traders should refrain from aggressive dip-buying in IT stocks and consider using rallies toward resistance as opportunities to sell until momentum improves, Sudeep Shah said.
Shubham Agarwal explained the strategy investors should adopt when the character of the market has completely changed.
The weekly options data signalled a 25,500–25,800 range for the upcoming sessions, while the broader range for the Nifty 50 is seen at 25,000–26,000.
Moneycontrol collated top 9 rate-sensitive stocks from experts to accumulate after the RBI policy decision:.
The Bank Nifty remained in a better position than the Nifty 50. The banking index needs to defend the falling support trendline, as below it, 59,600–59,500 are the levels to watch. On the higher side, the hurdle is seen at 60,400, experts said.
The market may consolidate further as participants await the outcome of the RBI monetary policy meeting scheduled for February 6. Below are some short-term trading ideas to consider.
As long as the Nifty 50 stays above 25,500–25,450 (key support), an upward move toward 25,800–26,000 is possible; however, a decisive fall below this level can open the door for 25,000, where the maximum Put open interest is placed, experts said.
Weekly options data suggested immediate resistance for the Nifty 50 at the 25,700–25,800 zone, with support at the 25,500 level, as a decisive break on either side can give a firm direction to the index.
As long as these indices hold above the midline of the Bollinger Bands (20 DMA), the trend remains in favour of the bulls, with a continuation of the buy-on-dips strategy, experts said.
Consolidation with range-bound trading may continue over the next couple of sessions. Below are some short-term trading ideas to consider.
Momentum indicators gave a clear buy signal and the VIX dropped further, while the index sustained above all key moving averages as well as above the previous day’s bullish gap.
The weekly options data also indicated 26,000 as a resistance zone for the Nifty 50 (where the maximum Call open interest is placed), followed by immediate resistance at 25,800. However, 25,500, where the maximum Put open interest is observed, is likely to be a crucial support.
The indices are expected to see some consolidation with range-bound trading, though the trend remains in favour of the bulls.
The market may consolidate after this stellar run, but bulls remain in control. Below are some short-term trading ideas to consider.
Overall, trend remains positive, but after this stellar run, consolidation with support in the 25,600–25,500 zone cannot be ruled out.
Weekly options data indicated that the Nifty 50 may face its next resistance at 26,000, followed by 26,500, where maximum Call open interest is placed, with support at 25,500, where maximum Put open interest was seen.
Markets reacted positively after US President Donald Trump said Washington would reduce the reciprocal tariff on Indian goods to 18 percent.
Buying on dips offers a superior risk-reward, while avoiding aggressive trades into the gap and keeping leverage low is advised, said Ashish Kyal.
It would be crucial for the markets to go back inside the original 500-point trading zone created between 26,200 and 25,700. If this happens, then the primary trend would stay intact, said Milan Vaishnav.
US President Donald Trump announced a trade deal with India on Monday, reducing the tariff rate on Indian goods to 18 percent from 50 percent, on the condition that India should stop buying Russian oil and lower trade barriers.
