The options data indicated that the Nifty 50 is likely to face resistance at the 21,800-22,000 zone in the coming days, with support at the 21,700-21,500 levels
Mazagon Dock Shipbuilders has seen a breakout of falling resistance trendline as well as horizontal resistance trendline, and traded above all key moving averages, which is a positive sign.
The monthly options data indicated that 21,700-21,800 may be an initial resistance for the Nifty 50, followed by the psychological mark at 22,000 with support at the 21,500 mark
The market seems to have entered into consolidation mode with hurdle on the higher side at 21,593, the record high, and the support for the Nifty 50 on the lower side at 21,200-21,000 levels.