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March 27, 2023 04:44 PM IST Overall the index has been in a trading range of 16,800-17,200 for almost couple of weeks and within this range, the every dip is getting bought and every rise is seeing profit taking. Hence, unless and until this range gets broken on either side, the index may remain volatile with negative bias, experts said.
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March 24, 2023 05:21 PM IST The recent low of 16,800 is expected to be crucial. If the Nifty slips below it, it can slide further to 16,500, while 17,200 remains a key hurdle on the upside, experts have said
- March 23, 2023 04:58 PM IST
Also on the hourly charts, the Nifty50 has formed Double Top kind of pattern, which is also bearish reversal pattern, suggesting southward move for the index.
- March 22, 2023 05:02 PM IST
Unless and until the index gives decisive close above 17,200, further sharp upside move towards 17,300-17,500 area is unlikely in the near term, whereas 17,000 is expected to be near term support followed by 16,800, experts said.
- March 21, 2023 04:55 PM IST
The next resistance is expected to be in the 17,200-17,250 zone, followed by 17,450-17,500 levels, whereas the supports are placed at 16,950-16,800 levels. If the index extends uptrend further then there can be confirmation that it has formed the bottom around 16,828, the low of March 20, experts said.
- March 20, 2023 05:48 PM IST
For the Nifty, the next resistance is expected to be 17,200-17,300, with crucial support at 16,800-16,750, experts said
- March 17, 2023 05:20 PM IST
Resistance is at 17,300-17,350 followed by 17,450, which coincides with 200-day SMA, whereas 16,950-16,850 can act as crucial supports, say experts
- March 16, 2023 05:35 PM IST
If the index manages to go past the day's low of 16, 864, it can initially move to 17,200 and the 17,400-17,500 area, experts said
- March 15, 2023 05:48 PM IST
With today's fall, the index has also broken the lower threshold of channelling, which can trigger more downside. However, on the higher side, the rebound, if any, could be possible up to 17,200-17,300 area followed by 17,450, experts said.
- March 14, 2023 05:19 PM IST
There seems to be some kind of bullish divergence in the price and indicator with the Nifty making a lower low and RSI making a higher low between February 28 and March 14, indicating a possibility of rebound in coming sessions, say experts
- March 13, 2023 05:07 PM IST
If the index slips below 17,000, it can slide further to 16,900-16,750. On the higher side, 17,400-17,500, which coincides with the 200-day simple moving average, may act as a hurdle, experts have said
- March 10, 2023 04:59 PM IST
For coming sessions, 17,300, the low of Friday, is expected to act as a support area and if the said levels get broken, then there could be further correction up 17,200-17,000 area, whereas 17,600 is expected to be crucial resistance area, which coincides with 200-day EMA (exponential moving average), experts said.
- March 09, 2023 05:16 PM IST
For the bulls, 17,650 will be the immediate resistance. Below it, the index can slip to 17,500-17,450, Shrikant Chouhan of Kotak Securities has said
- March 08, 2023 04:48 PM IST
The index needs to cross 17,800–17,850 for a shift in momentum. On the lower side, 17,600 and 17,550 will act as supports, experts said
- March 06, 2023 04:57 PM IST
For coming sessions, 17,800 is expected to be a crucial level for the Nifty50 for further upside towards psychological 18,000 mark, with support at 17,300-17,500 area, experts said.
- March 03, 2023 05:38 PM IST
Once the Nifty goes past 17,600-17,650, it can climb to 17,800-18,000. Support is at 17,250-17,300, experts have said
- March 02, 2023 05:20 PM IST
If the index breaks the recent swing low of 17,250-17,300, then it may slip to 17,000, while on the higher side, 17,450 remains crucial, experts said
- March 01, 2023 04:47 PM IST
If the index sustains the uptrend and close above 17,600 then 17,800-18,000 is expected to be the key resistance, with support at 17,300, experts said
- February 28, 2023 05:30 PM IST
On the monthly scale, the index lost more than 2 percent and formed a big bearish candle for the third straight month. The index is down 1,600 points from the record high of 18,887 it hit on December 1
- February 27, 2023 05:24 PM IST
For the Nifty, 17,500-17,600 will act as a resistance. Support is at 17,300-17,350, a break on either side can give a clear direction to the market, say experts
- February 24, 2023 05:26 PM IST
The index ended the week 478 points down in its biggest weekly fall since June 2022 and formed a large bearish candlestick on the weekly scale, indicating further weakness
- February 23, 2023 05:16 PM IST
Experts say if the Nifty holds 17,500, it can move towards 17,700-17,800. A breach can bring the index down to 17,362
- February 22, 2023 05:15 PM IST
The next support for NIfty50 is placed at 17,500, followed by crucial support at 17,350 - around the Budget day's low as well as near 200-DMA. If the said levels get broken, then sharp selling pressure can't be ruled out, experts said.
- February 22, 2023 02:43 PM IST
The volatility also spiked sharply and moved close to 16 level intraday, making the bulls uncomfortable at Dalal Street. If it moves above 16-level will definitely spark higher selling in the index," Viraj Vyas said.
- February 21, 2023 05:39 PM IST
Weakness will persist as long as the index remains below 17,900. A pullback is possible above 17,900 and can take the index to 17,950-18,000, Shrikant Chouhan of Kotak Securities has said
