Page 14 - Technical View News Today

The overall sentiment remains pessimistic, with the likelihood of any upward rallies being met with selling activity, said an expert

A correction can drag the Nifty50 up to 19,200, whereas 19,400-19,500 range is expected to be an immediate resistance area, say experts

The Option data indicated that the 19,400-19,600 is expected to be the critical resistance area on the higher side, with support at 19,300-19,000.

The Option data indicated that 19,400-19,500 is expected to be key hurdle area for the Nifty on the higher side, with support at 19,200-19,000 levels.

The stock witnessed a corrective phase after it touched a high of Rs 3860 on 2 May 2022. The stock underwent a period of consolidation and found support above Rs 2700 in December before bouncing back.

The short-term trend for the Nifty continues to be negative and there is a possibility of some more weakness in the coming sessions, Nagaraj Shetti of HDFC Securities has said

19,500 is expected to remain a crucial for bulls to get it conquered for gaining strength going ahead, whereas the support stays at 19,300-19,250 levels, experts said

If the Nifty goes past and holds above 19,500, it can move towards 19,650 but in case of a fall, another round of selling pressure is likely, experts have said

The index has to breakout of the 19,500-19,250 range on either side for a clear direction, say experts

To sustain the consistent uptrend, the Nifty has to go past and sustain above the 19,500 mark on a closing basis, while the support remains at 19,300-19,250