The short-term trend of Nifty continues to be negative and there is a possibility of some more weakness in the coming sessions, says Nagaraj Shetti of HDFC Securities
Thursdays move signals chances of Nifty sliding down to or breaking below the immediate support of 19300-19250 levels in the near term. Any attempt of an upside bounce could find strong resistance around 19550 levels, said Nagaraj Shetti of HDFC Securities
INDIA VIX dip below 12 signifies a potential subsiding of market volatility. Amidst this backdrop, investors are encouraged to exercise prudence, weighing the benefits of profit booking while considering the promising prospect of entering the market for the long haul
On the derivatives front, the strikes of 19400 saw the addition of call open interest. Negative chart patterns like lower tops and bottoms continued as per daily chart and Nifty seems to be forming a smaller lower top as of now within a narrow range, analysts said
Nifty exhibited a positive tone as it maintained levels above the crucial support point of 19,250. A breach below this level could potentially spark unease within the market, causing concerns among investors.