Nifty Expected to Remain Rangebound with Mildly Bullish Undertone This Week
मुख्य बातें
- •The Nifty is expected to remain rangebound with a mildly bullish undertone this week, citing mixed domestic and global cues.
- •Key support for the Nifty is placed around the 23,150-23,250 zone, followed by the 22,900 mark.
- •The 23,800-24,000 zone remains a key hurdle, and a decisive breakout above this band could trigger fresh momentum towards the 24,500-24,650 zone.
- •Analysts recommend a "sell on rise" approach in the 23,800-24,000 range in Nifty, with a stop-loss at 24,200 and downside targets around 23,400 and 23,250.
- •Top stock bets include Angel One, Steel Authority of India, Sammaan Capital, Trent, Vishal Mega Mart, and Vardhman Textiles, which are expected to perform well based on their technical charts and trading patterns.
The Indian stock market is expected to remain rangebound with a mildly bullish undertone this week, as technical analysts cite mixed domestic and global cues. According to Ajit Mishra, SVP-Research at Religare Broking, the Nifty continues to trade with a corrective bias and a downward shift in its trading range, reflecting indecisiveness amid mixed domestic and global cues. The immediate support for the Nifty is placed around the 23,150-23,250 zone, followed by the 22,900 mark. On the upside, the 23,800-24,000 zone remains a key hurdle, and a decisive breakout above this band could trigger fresh momentum towards the 24,500-24,650 zone.
