Overall, analysts maintain a positive yet cautious stance as Nifty 50 is set to retest its record high level, but there could be bouts of intra-day volatility. A possible breakout attempt for Nifty 50 above 22,150 could lead to an uptrend to inch towards 22,500+.
The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 19,648 level as compared to the Nifty futures’ previous close of 19,688.