Key support levels for the Nifty are placed at 15,534.63, followed by 15,433.97. If the index moves up, the key resistance levels to watch out for are 15,768.23 and 15,901.17.
Rajesh Palviya of Axis Securities said the next higher levels to be watched are around 15,800 levels.
"The short term trend of Nifty continues to be positive with rangebound movement. There is a possibility of further upside in the coming sessions," said Nagaraj Shetti of HDFC Securities.
The next level to watch is around 15,700. Any sustainable move above 15,700 may cause momentum towards 15,800-15,850, says Rajesh Palviya of Axis Securities.
The short term trend of Nifty continues to be positive and one may expect further upside in the coming session, says Nagaraj Shetti of HDFC Securities.
The next higher levels to be watched are around 15,600 levels. Any sustainable move above 15,600 levels may cause momentum towards 15,700-15,750 levels, said Rajesh Palviya of Axis Securities.
Nagaraj Shetti of HDFC Securities feels the next upside levels to be watched for Nifty is 15,800 levels, which could be reached in the next 3-4 sessions.
Rajesh Palviya of Axis Securities feels any sustainable move above 15,600 levels on the Nifty50 may cause momentum towards 15,700-15,750 levels.
The key support levels for the Nifty are placed at 15,397.1, followed by 15,358.5. If the index moves up, the key resistance levels to watch out for are 15,472 and 15,508.3.
As long as this strength of uptrend continues for the next 1-2 sessions, one may expect a decisive upside breakout of the hurdle at 15,450 levels, said Nagaraj Shetti of HDFC Securities.
Key support levels for the Nifty are placed at 15,150, followed by 15,091.5. If the index moves up, the key resistance levels to watch out for are 15,280.4 and 15,352.3.
Key support levels for the Nifty are placed at 15,143.4, followed by 15,089.1. If the index moves up, the key resistance levels to watch out for are 15,254.1 and 15,310.5.
Potential upside pattern target of 15,800 for the Nifty could open up and this could be achieved over the next few weeks, said Nagaraj Shetti of HDFC Securities.
Rajesh Palviya of Axis Securities said the next higher levels to be watched are around 15,150 levels.
"Nifty not showing any profit booking in the next couple of sessions could open the next upside levels of 15,450-15,500 in the near term. Immediate support is placed at 15,000 levels," says Nagaraj Shetti of HDFC Securities.
Any decisive breakout above this 15,000 levels on a closing basis may cause strength towards 15,200-15,250 levels, said Rajesh Palviya of Axis Securities.
The short term trend of Nifty is choppy with weak bias; the present market action signals chances of an upside bounce in the coming sessions, says Nagaraj Shetti of HDFC Securities.
"There is a possibility of some more weakness in the coming sessions," says Nagaraj Shetti, Technical Research Analyst at HDFC Securities. Immediate support for Nifty is placed at 14,620 levels, Shetty adds.
The current weakness could get over in the next 1-2 sessions and one may expect a formation of higher bottom around 14,700-14,750 levels, says Nagaraj Shetti of HDFC Securities.
Any decisive breakout above this 15,000 levels on a closing basis may cause strength towards 15,200-15,250 levels, said Rajesh Palviya of Axis Securities.
The Nifty moved above the downside sloping weekly trend line resistance last week by closing above 14,700 levels. This is a positive indication, says Nagaraj Shetti of HDFC Securities.
Nagaraj Shetti of HDFC Securities feels Nifty is now placed at the crucial upper resistance of around 14,725 (swing high of May 4) and a sustainable move above this hurdle could open next upside resistance of around 14,900-15,000 levels in the short term.
Rajesh Palviya of Axis Securities feels any sustainable move above 14,700 in Nifty may cause momentum towards 14,800-14,850 levels.
A decisive move below 14,400 could pull Nifty down to a crucial lower support band of 14,200-14,150 levels, and that area is expected to offer support for the market from the lower levels, says Nagaraj Shetti of HDFC Securities.
Nifty manages to hold its 100-day SMA support zone of 14,474 level, which remains a crucial support zone ahead, said Rajesh Palviya of Axis Securities.