Technical and derivative analysts expect Nifty to find support at 15,600 levels after a second consecutive weekly loss. Nifty fell 0.2% last week to close at 15,689.8 but outperformed regional peers barring Indonesia and Singapore. Corporate earnings and any global volatility over surge in Covid cases is likely to keep investors on edge. Analysts expect Nifty to face resistance near 15,900.
Dharmesh Shah, Head - Technicals, ICICI Securities
Where is Nifty headed?
Nifty is approaching maturity of price/time-wise correction as it retraced its May 2021 rally by just 38% over past 4 weeks, indicating robust price structure. Time-wise, it is expected to maintain rhythm of not correcting for over 3