Bullish trend to continue; 15,300 next big hurdle for Nifty: Experts
Going forward, 15100-15000 will act as a strong hurdle and if Nifty manages to sustain above it, we may see the index march towards its previous swing high says Rohit Singre of LKP Securities
The market rose 3 percent last week climbing major resistance levels supported by the positive domestic as well as global cues. BSE Sensex rose 1,807.93 points (3.70 percent) to end at 50,540.48, while the Nifty50 added 497.5 points (3.38 percent) to close at 15,175.3 levels. Here's what the experts expect this week:
2/5
Ashis Biswas, Head of Technical Research at CapitalVia Global Research | Nifty needs to hold 14900 level, which seems likely from the technical indicators. If it manages to stay above 15000 levels, we see a rally up to 15370-15400 levels.
3/5
Rohit Singre, Senior Technical Analyst at LKP Securities | Going forward, 15100-15000 will act as a strong hurdle and if Nifty manages to sustain above it, we may see the index march towards its previous swing high. On an overall basis, an immediate hurdle is coming near the 15250-15350 zone.
4/5
Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments | We see Nifty heading higher towards 15300. The support continues to be at 14700 and this will get upgraded on Monday. As long as this holds, we are in bullish terrain and can continue buying the dips for higher targets.
Ajit Mishra, VP Research. Religare Broking | We expect volatility to remain high next week due to the scheduled derivatives expiry of May month contracts. Besides, participants will be closely eyeing the COVID-related updates as the reduction in the cases has raised hopes of gradual unlocking by the states. We feel our markets can outperform the global peers in near future, tracking the favourable developments on the local front. Nifty might take a breather around 15,300 followed by the hurdle at the record high. Almost all the sectoral indices are participating in the move but the focus would remain on banking and financial to maintain the prevailing momentum. We advise aligning trades in line with the trend and avoid contrarian positions.
