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Looking at the close of Smallcap and microcap indices, traders should remain cautious in those segments.

Godrej Properties formed robust bullish candlestick pattern on the daily charts, with significantly higher volumes. The stock now traded above all key moving averages.

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.

Valuations in the largecap IT space remain expensive against their pre-COVID levels and the big names are still a few quarters away from turning a corner, says Hemang Kapasi.

In the upcoming week, immediate resistance for Nifty 50 is anticipated at 22,180. Breaching this level might induce short covering in index futures.

Companies within FMCG sector offering attractive valuations may warrant consideration over making sector-wide decisions, says Raghvendra Nath.

Overall, Q4FY24 earnings season is expected to be reasonably aided by healthy macroeconomic trends.

Nifty is in continuation of an uptrend and next resistance for the index is seen in the zone of 22,800-23,000, where Calls have been written.

The market turned volatile at 22,500 as it priced in the non-event. If it closes above 22,600, then march towards 22,700-22,800 is on the cards