Given the weak sentiment, the market may extend its downward journey in the upcoming sessions. Below are some trading ideas for the near term.
The Nifty 50 is poised to climb towards 24,800-24,900 in the coming sessions, provided it holds 24,500, with crucial support at 24,300. Here are some trading ideas for the near term.
Overall, the index has still been in the range with 19,750-19,800 likely to act as a crucial resistance as breaking of the same can drive the Nifty50 towards 20,000 mark, whereas 19,500 is expected to be immediate support and 19,200 may be crucial support for the index, experts said
Other power stocks including NTPC, NLC India, NHPC, and others were also trading higher by up to 4-5 percent.