For the short term, 22,620-22,630 will act as resistance for the Nifty. If the index sustains above 22,630, Nifty could attempt to break its all-time high of 22,776, says Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.
We have been seeing a really strong earnings narrative in this financial year. Going forward, definitely there will be a base effect that will pose a bit of a headwind.
Support for the Nifty is seen at 22,000 and 21,700-800 levels. On the higher side, the immediate resistance for the Nifty is at 22,150-175 levels, followed by 22,300-350. Overall, the coming week should set up the market for a large trending move.
It has become fashionable to say elections and the upcoming Budget are priced in, says the CEO of WhiteOak Capital AMC. There is substantial upside potential in the coming months, which shouldn t be overlooked or underestimated, he says.