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Blue Dart Express has seen a consolidation breakout, trading above all the key moving averages, and has formed a robust bullish candlestick pattern on the daily charts, with a manifold jump in volumes.
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.
With the global markets on a rebound mode post the US Fed Policy announcement, Shah, of SBI Securities, feels Nifty could continue consolidating between 22,280 on the downside and 22,800 levels on the upside in the coming week.
The market is expected to consolidate further with a positive bias in the coming week, with a focus on corporate earnings, the third phase of Lok Sabha elections, UK's first quarter GDP numbers, and Bank of England's policy meeting, experts said.
Based on the OI percentage, 82 stocks saw long unwinding, which included Abbott India, Havells India, Ipca Laboratories, Oberoi Realty, and Aditya Birla Fashion & Retail.