The Nifty maintained its strength by staying above 22,500 throughout Monday, exceeding the previous all-time high of 22,619, said Rupak De, Senior Technical Analyst, LKP Securities.
"However, the index has reached near the upper band of the rising wedge, which might act as resistance in the short term. The index might consolidate within a range over the short term. On the lower end, support is placed at 22,500, below which the index might fall back into consolidation," De said.
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Auto, real-estate stocks lead broad-based rally in markets
The Nifty commenced the week with a consolidated move on Monday, resulting in the formation of a Doji candle on the daily chart.
Despite this, the overall sentiment remained bullish, said Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities.
The Nifty closed at 22,405.60 on Monday, up 27 points, or 0.12 per cent, while the Sensex settled at 73,872.29, up 66 points, or 0.09 per cent.
A decisive break above 22,440 for Nifty is anticipated to intensify the momentum, tar...
Nifty`s momentum remains bullish, say analysts
The market took a breather on Monday after the recent run-up as investors' focus shift from earnings to economic triggers this week, said Vinod Nair, Head of Research at Geojit Financial Services.
While Nifty was down 90.65 points, or 0.41 per cent, at 22,123.85 at close on Monday, Sensex was down 352.67 points, or 0.48 per cent, at 72,790.13.
The US and India GDP data, eurozone inflation, and US jobless claim data will be influential economic numbers for the central bank to take a ...
Markets take a breather after recent run-up
The Bank Nifty bulls are maintaining their robust momentum, pushing the index beyond the 48,000-level, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said on Friday.
The overall market sentiment remains bullish, supported by a strong base at 47,500. Any retracement towards this support level is seen as buying opportunities. The upside potential for the index is projected to reach 50,000, indicating continued optimism among market participants, Shah said.
Vinod ...
Bank Nifty projected to hit 50,000-mark
Below the Quote On Bank Nifty 16 November 2023 By Kunal Shah,Senior Technical & Derivative Analyst at LKP Securities.
"The Bank Nifty index encountered resistance at 44,500, where notable selling pressure emerged in the last half-hour of trading. The index continues to adopt a "buy on dip" strategy, with a support level at 43,700, aligning with its 20-day moving average (20 DMA). A close above 44,500 is anticipated to trigger additional short-cov...
Quote on Bank Nifty : The Bank Nifty index encountered resistance at 44,500, where notable selling pressure emerged in the last half-hour of trading says Kunal Shah, LKP Securities
Below View on Bank Nifty 12 September 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities"After a remarkable upward movement over the past week, the market experienced selling pressure from higher levels. Call writers have significantly increased open interest at the 46,000CE strike, which is now acting as a strong resistance level. On the downside, key support is seen at 45,200, and if it manages to hold this support, we could witness some recovery towar...
Quote on Bank Nifty : On the downside, key support is seen at 45,200, and if it manages to hold this support Says Kunal Shah, LKP Securities
