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Sameet Chavan, Head Research, Technical and Derivatives, Angel One, said the overall market breadth remained buoyant but with a narrow difference, signifying a sense of timidity as Nifty inched towards the crucial hurdle zone.
Sameet Chavan, Head Research, Technical and Derivatives, Angel One, said, the market has shown its intent and it would be just a matter of time before the benchmark would come out from the broader consolidation zone to regain a strong momentum.
Considering the momentum in key sectors, if the Nifty50 decisively surpasses 19,500, then 19,650 is expected to be the crucial area for sharp up-move, while the critical support remains at 19,300-19,250, experts said
A breach 19,170–19,200 can lead to further weakness and the Nifty can slide to 19,050–19,000 in the near term. The 'sell-on- rise' strategy is expected to favour traders until the Nifty surpasses 19,500, analysts have said
Maintaining its winning streak, the Nifty midcap index scaled the 39,000-mark for the first time, propelled by robust buying in counters like Shriram Finance, Max Financial, ABB India, REC and Coforge