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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
Zomato ended at new closing high and formed long bullish candlestick pattern on the daily scale with above average volumes. The stock traded above all key moving averages.
In terms of levels, immediate resistance for Nifty 50 is notable at 22,800, a significant level on higher time frames, with further resistance observed at 23,170 and 23,400.
Over the short term, the Nifty 50 may trend towards 22,650. Support is positioned at 22,350 on the lower end.
L&T Technology Services has seen a breakout of long downward sloping resistance trendline adjoining highs of January 4, 2022 (record high), and February 12 this year. The stock has formed long bullish candlestick pattern on the daily charts.