Technical View: 22,300 key for further downside in Nifty, bulls uncomfortable after India VIX rises for 7th day
The weekly options data indicated that the Nifty may face resistance at 22,700-22,800 levels, with crucial support at 22,000 mark.
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The weekly options data indicated that the Nifty may face resistance at 22,700-22,800 levels, with crucial support at 22,000 mark.
The Nifty is currently trading within a rising channel pattern, suggesting potential bullish momentum if it manages to maintain levels above 22,300 in the current week, with a likely target range of 22,750-22,800.
In the upcoming week, immediate resistance for Nifty 50 is anticipated at 22,180. Breaching this level might induce short covering in index futures.
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Milan Vaishnav sees Nifty Bank improving its relative performance against Nifty.