As it will be the last trading week before the key event, which coincides with the F&O expiry, heightened volatility is expected, says Rajesh Bhosale, Technical Analyst, Angel One.
Experts believe that if the index closes and sustains above 23,000, the next hurdle would be the upper band of the Rising Channel (23,100-23,200), and surpassing this could open doors to 23,500, with support at 22,800.
The 23,000 level is expected to play a key role in the Nifty s further direction, and sustaining this level can take the index towards the upper band of the Rising Channel (i.e., 23,100-23,200), followed by 23,500, with support at 22,800.
Technical View: Trend looks strong, Nifty needs to sustain above 23,000 for further upward journey moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
As election uncertainty still continues to weigh on the market, investors are now looking for clues about the timing and extent of the US Fed policy easing