Page 9 - Technical View News Today

Recommend selective buying in mid and small-cap stocks. Do not get upset seeing 18,400 or 18,100; the uptrend is strong. In a rising market, more corrective and fast declines are witnessed

If the Nifty50 decisively holds 19,500 as well as moved above the falling resistance trendline, then the index can start marching towards the high of October at 19,850

On the weekly options front, 19,500 strike maintained the maximum Call open interest, followed by 19,600 strike, with Call writing at similar strikes, which indicating that 19,500-19,600 seems to critical resistance area for further upmove in the Nifty.

Options data indicated that 19,500 is expected to be crucial for march towards 19,600-19,800 levels, with support at 19,400 & 19,300 levels.

For buying interest to resume, the index has to close above 19,500, while support is at 19,300, experts say

Data indicates that 19,400 is likely to be crucial for the Nifty to move in either direction. Support is at 19,300-19,250, experts say

The Options data continued to indicate that 19,500-19,600 is going to be crucial resistance for further upside, while 19,400 seems to be an immediate support

The Options data indicated that 19,500-19,600 is likely to be the key hurdle zone for the Nifty50, with 19,300 support, but in between, 19,400 seems to be crucial for either side of the trade.

The weekly Options data suggested that 19,500-19,600 can be the next crucial resistance area for the Nifty, with support at 19,300

One should only be bullish on Nifty if it closes above its crucial 100-day moving average placed at 19,300, Kunal Shah said.