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Given the current chart structure, short-term volatility is anticipated. The recommendation is to consider buying Nifty 50 near the support zone of 21,550 – 21,500, targeting an upside potential ranging from 22,126 to 22,500 levels.
Beyond 21,850, the Nifty could potentially move towards 22,200. Support for the near term is positioned at 21,700.
Aegis Logistics formed strong Bullish Engulfing candlestick pattern on the daily charts, which is a bullish reversal pattern forming at the downtrend. The stock traded above all key moving averages, with strong volumes.
Weekly analysis indicates the Nifty 50 hovering below the middle Bollinger band, with potential support identified in the 21,550-21,500 zone.
Zydus Lifesciences formed strong bullish candlestick pattern on the daily charts, with robust volumes, while on the monthly basis, it has continued run up for fourth consecutive month.