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The Nifty 50 may gradually climb toward the 26,350–26,400 levels, but only after it convincingly surpasses and holds the 26,200 zone. Until then, consolidation may continue with support at the 26,050–26,000 levels.
Consolidation with range-bound trading may continue for a couple of more sessions before the market regains strength. Below are some short-term trading ideas to consider.
Experts believe the Nifty 50 is expected to give a strong breakout above 26,200 and march toward the 26,350–26,400 zone in the upcoming sessions. Until then, minor consolidation may continue, with immediate key support placed in the 26,050–26,000 zone.
According to experts, the Nifty 50 must decisively surpass and hold above the falling resistance trendline, which lies slightly above the 26,200 zone, for a move toward the record high of 26,326.
Considering the bullish bias, the Nifty 50 is expected to attempt to reclaim 26,200, but the sustainability of the move is the key factor to watch thereafter. Holding above this level can open the door for a record high.
The positive momentum is expected to sustain for a few more sessions. Below are some short-term trading ideas to consider.
As long as the Nifty 50 sustains above 26,000, 26,200—the immediate key resistance zone—remains the level to watch. Holding above it can open the door for a new high.
According to experts, the Nifty 50 is expected to march toward a record high of 26,326, followed by 26,500 in the upcoming sessions, provided it closes and sustains above the hurdle of 26,200.
A decisive close above 26,200 could force bears into sharp unwinding, extending the rally toward 26,500–26,700 on the Nifty 50.
The Nifty 50 needs to scale above 26,000, as above it, 26,100–26,200 are the levels to watch. However, sustaining below this level can keep the Nifty 50 in a consolidative mode, with support at 25,900–25,800, experts said.
Range-bound trading is likely to continue in the upcoming sessions. Below are some short-term trading ideas to consider.
In case of rebound, an upward move toward the 26,100–26,300 zone is possible on the Nifty 50. However, failure to confirm a rebound in the following session could drive the index down toward the 25,800–25,700 zone, experts said.
The 26,000–26,100 zone is expected to act as a hurdle on the upside for the Nifty 50, while support is placed in the 25,850–25,800 range, according to experts.
In case of a further fall, the Nifty 50 may take support at 25,800 (50-day EMA) and around 25,700 (December low). However, a decisive break below these levels can strengthen the bears.
The market is expected to remain weak amid choppy movement in the short term. Below are some short-term trading ideas to consider.
The next support is placed at the 50 EMA (25,830), followed by 25,726 as a key support zone. If the Nifty 50 breaks below 25,726, the higher high–higher low formation could get negated and bears may take control.
The above options data also suggest that the 26,000–26,200 zone is expected to act as resistance for the Nifty 50, while support is placed at the 25,900–25,800 levels.
The Nifty 50 may consolidate as long as it trades below 26,250, with immediate support at 26,000–25,950, followed by 25,800 being key support, while a decisive move above this level could push the index toward 26,350–26,500.
The market may continue to consolidate as long as it trades below last week’s high. Below are some short-term trading ideas to consider.
If the index falls and sustains below the immediate key support of the 26,000–25,950 zone, selling pressure may widen; however, holding above this zone could take the index toward the 26,100–26,150 zone. The trading range for the next couple of sessions could be 25,950–26,300.
Looking ahead, the 26,200–26,250 zone is likely to serve as a key barrier for Nifty 50. A convincing breakout above 26,250 could open the door for a swift upswing towards 26,500 and then 26,650 in the near term, said Sudeep Shah.
Shubham Agarwal, CEO of Quantsapp, highlights specific scenarios where traders should avoid traditional adjustments
Market participants cited foreign fund outflows and the absence of major domestic triggers for the cautious sentiment.
Milan Vaishnav believes the Nifty IT Index is breaking out from a multi-month consolidation and may inch meaningfully higher from current levels.
As long as the Nifty 50 defends the 26,100–26,000 support zone, a move toward 26,250–26,400 remains possible despite ongoing consolidation.
