Nifty is expected to oscillate around 21,950 within a range of 75 points. A negative tilt is anticipated until it remains below 22,050. For Bank Nifty, the expected expiry range is between 45,800 and 46,200-46,300
On the daily chart, consecutive small-body candles indicate subdued trading sessions for the benchmark index. Technical analysts suggest that despite the overall bullish tone, caution is warranted due to negative divergence on key momentum indicators, especially in relation to aggressive long positions, particularly those held overnight.
The trend is likely to be volatile. The index it needs to hold above 20,250 to move towards 20,450 and then 20,600 levels. A slip can result in a decline towards 20,100 and then 20,000
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