The short term trend of Nifty is positive and one may expect further upmoves in the coming sessions, says Nagaraj Shetti of HDFC Securities.
For the next 4-5 sessions, 13,400 is an important support to keep an eye on, says Abhishek Chinchalkar of FYERS.
On Tuesday, the market would rally if it crosses 13,600 levels at the beginning, and in that case, we could even see the levels of 13,700 or 13,750, says Shrikant Chouhan of Kotak Securities.
Key support levels for the Nifty are placed at 13417.97, followed by 13322.13. If the index moves up, the key resistance levels to watch out for are 13594.47 and 13675.13.
Key support levels for the Nifty are placed at 13417.23, followed by 13356.17. If the index moves up, the key resistance levels to watch out for are 13521.43 and 13564.57.
Key support levels for the Nifty are placed at 13469.5, followed by 13409.9. If the index moves up, the key resistance levels to watch out for are 13568.8 and 13608.5.
Key support levels for the Nifty are placed at 13324.17, followed by 13255.33. If the index moves up, the key resistance levels to watch out for are 13448.67 and 13504.33.
The key support level for the Nifty is placed at 13,276.3, followed by 13,196.8. If the index moves up, the key resistance levels to watch out for are 13,401 and 13,446.2.
The upside levels to be watched for the next week is at 13,500 mark and the immediate support is placed at 13,150, said Nagaraj Shetti of HDFC Securities.
Immediate supports could be watched at 13,000 levels and on the upper side, 13,250 could act as a key overhead resistance, says Nagaraj Shetti of HDFC Securities.
According to Nagaraj Shetti of HDFC Securities, the market is expected to face stiff resistance around 13,150 or slight higher in the coming sessions.
Nagaraj Shetti of HDFC Securities feels the short term trend of Nifty continues to be positive.
Nagaraj Shetti of HDFC Securities says the short term trend of Nifty is choppy and the market is expected to move in the range of 13,100-12,800 levels by next week.
Nagaraj Shetti of HDFC Securities feels a sustainable move above 13,150 levels could negate this bearish pattern completely.
A sharp follow-through weakness is going to be crucial to confirm short-term top formation in the market, say analysts.
Further decisive upmove could have a sharp positive impact on the market and that could open the next upside targets of around 13,500-13,600 levels in the near term, says Nagaraj Shetti of HDFC Securities.
According to Nagaraj Shetti of HDFC Securities, a sustainable move above 13,000 mark is expected to bring sharp upside momentum back into action.
One may expect Nifty to move towards the new all-time high of 12,963 levels by next week, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities
The present upmove could continue for another 1-2 sessions before showing another higher top at the new highs, say analysts.
If the Nifty50 moves up, the key resistance levels to watch out for are 12,822.77 and 12,865.33.
Thursday's minor weakness has not changed the status of near- term positive trend of the market, says Nagaraj Shetti of HDFC Securities.
Long positions need to be protected with appropriate stoploss, Nagaraj Shetti of HDFC Securities says.
The next upside level to be watched is around 12,800 for the next few sessions, says Nagaraj Shetti of HDFC Securities.
The upside targets to be watched around 12,750-12,800 levels in the next 1-2 weeks, said Nagaraj Shett of HDFC Securities.
Nagaraj Shetti of HDFC Securities said weekly RSI has moved above 60 levels, which is suggesting further strengthening of upside momentum in the market