Sustaining above 25,950-26,000 levels can open the door for 26,200–26,300, but a decisive fall below them can raise the possibility of consolidation in the Nifty 50, with support placed at the 25,750–25,700 zone, according to experts.
Weekly options data indicated that the Nifty 50 is expected to face resistance at 26,300–26,500 in the short term, with support at the 25,900–25,800 levels.
If the Nifty decisively breaks out and sustains above the 25,950-26,000, a rally toward 26,100–26,200 can’t be ruled out, while 25,700 can act as immediate support.
For the upside to continue from here, the Nifty 50 needs to surpass and sustain above the 25,950–26,000 zone to move upward toward 26,200–26,300 levels. Until then, it may consolidate, with immediate support at 25,700.
Weekly options data indicated that 26,000 is expected to remain a crucial hurdle for the Nifty 50, with support at 25,700.
Considering the bearish undertone, if the Nifty 50 breaks 25,700, a fall toward 25,500–25,400 can be seen, but holding above it can drive the index toward 25,800–25,950 in the immediate term, followed by the 26,000 zone.
The Nifty 50 managed to defend the 50-day EMA (25,700) for another session, but a fall and sustained close below this level in the coming sessions could strengthen the bears and open the door for a decline toward 25,500, the key support zone.
Weekly options data indicated that the Nifty 50 is expected to face resistance at 25,900–26,000 levels, with support at 25,500.
As long as the NIfty 50 holds this level, 25,900 (near Tuesday’s high) is the immediate level to watch, followed by 26,000 (20 DSMA) as the key hurdle. However, falling below 25,700 can bring bears into strong power.
If the Nifty 50 convincingly breaks below 25,700 (the 50 DEMA and Tuesday’s intraday low), 25,500 will be the key downside level to watch. However, sustaining above this mark can increase the possibility of a move toward the 26,000–26,200 zone, according to experts.
Weekly options data indicated that the Nifty 50 is likely to trade in the 25,500–26,000 range in the short term.
According to experts, if the Nifty 50 breaks and sustains below Monday’s low of 25,892, a move toward 25,800 and 25,700 may be seen in the upcoming sessions. However, in case of a rebound, 26,100–26,200 are the levels to watch.
The crucial support lies at 25,840; if the Nifty 50 breaks below this level, 25,700 (50-day EMA) can't be ruled out, and there could be a negation of the large-degree higher-high–higher-low structure. On the higher side, 26,100–26,200 is expected to act as a hurdle for the index.
The weekly options data suggested that 25,800 is expected to be immediate support, with resistance at 26,000-26,100.
The Nifty 50 is expected to march toward 26,300 in the upcoming sessions as long as it holds the 26,000 zone, below which 25,850 remains the crucial support. Above 26,300, 26,500 is the level to watch.
Friday's rally raised hopes for a move toward 26,300 in the upcoming sessions. Above this, 26,500 is the level to watch on the Nifty 50, while support is placed in the 26,000–25,900 zone, according to experts.
Nifty moved sharply higher following the policy announcement and continues to trade above the 21-day exponential moving average.
If the Nifty 50 sustains above the psychological 26,000 level in the upcoming sessions, the 26,100–26,200 zone will be the levels to watch, but falling convincingly below it can open the door for the 25,900–25,800 zone.
As long as the Nifty 50 defends 25,900 as support, an upward move toward 26,100–26,300 amid consolidation is possible in the upcoming sessions. However, a decisive fall below this level can open the door for 25,840, a crucial support, according to experts.
Nifty inched up in early trade but later pared most of its gains as profit-booking led to sharp intraday swings.
Until the Nifty 50 holds this level on a closing basis, the possibility of a rebound toward 26,000–26,100 is high, but falling decisively below it can open the door first for 25,800 amid consolidation.
If the Nifty 50 convincingly falls and sustains below 20 DEMA and 20 SMA, bears may gain strength and drag it toward 25,840 (last Wednesday's low). In case of a rebound, 26,070 and 26,150 are the levels to watch, according to experts who advised caution.
The weekly options data suggested that the Nifty is expected to trade in the 25,500-26,500 range in the short term.
For the Nifty 50, psychological 26,000 mark can be an immediate support, while the crucial support is placed at the 25,966–25,840 zone. As long as the index holds this crucial support zone, the possibility of a rebound toward the record high can be seen.
As long as the Nifty 50 trades below 26,300, the key resistance zone for a sharp upmove, consolidation and rangebound trading may continue, with key support at the 25,900–25,850 zone, below which the selling pressure may widen, according to experts.