The 22,900-23,000 zone remains a key resistance band for the Nifty 50 next week, however, a decisive break below 22,350 would indicate a continuation of the downtrend, potentially dragging the index towards 22,200 and even 22,000, making this a crucial make-or-break zone in the near term, said Sudeep Shah of SBI Securities.
The market may consolidate near the previous day’s low after the sharp correction. Below are some short-term trading ideas to consider.
GTPL Hathway, Anand Rathi Wealth, Vodafone Idea, LT Foods, Rashtriya Chemicals & Fertilizers, and Power Finance Corporation will also be in focus on Friday.
Zomato is coming out and witnessed a breakout of a triangle pattern formation on the daily chart.
Sharekhan is bullish on Arvind has recommended buy rating on the stock with a target price of Rs 164 in its research report dated July 28, 2023.