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Blue Dart Express has seen a consolidation breakout, trading above all the key moving averages, and has formed a robust bullish candlestick pattern on the daily charts, with a manifold jump in volumes.

For the coming week, one can use a pullback on the Nifty to sell weekly Call options for a strike of 23,050, as it will not be easy for the index to break above 23,000 unless strong momentum is witnessed across the sector, says Ashish Kyal.

The markets are forward-looking and seem to have already factored in potential rate cuts, which explains the buoyancy in sectors like metals, real estate, and automobiles, says Anirudh Garg.

On the higher end, the record-high zone of 22,750-22,800 seems daunting for the bulls and until the Nifty witnesses a decisive breakthrough, the next leg of rally toward the 23,000 mark seems demanding.

The volatility index (VIX) bouncing back suggests challenges ahead, while on the downside, a breach below 22,300 could lead to a slide towards 22,100–22,000 on the Nifty.

On the lower side, 22,350-22,300 is the immediate key support for Nifty and as long as this holds, the chances of consolidation with positive is seen.

Kothari, DVP, who has around 15 years of work experience in technical research, is bullish on Balrampur Chini Mills and DCM Shriram for the coming week.

It is advisable to consider buying opportunities at the current market price, targeting potential upside levels ranging from 22,783 to 23,170 on the Nifty.

Ashok Leyland recorded healthy gains for yet another session and formed strong bullish candlestick pattern on the daily charts with above-average volumes.

The consolidation in Nifty Pharma index is likely to breakout on the upside, says Jatin Gedia, who is a technical research analyst at Sharekhan by BNP Paribas.