Tech View: Nifty can rally up to 25,500 in short term. Here’s how to trade on Friday

August 29, 2024

Nifty rose by about 100 points on Thursday’s expiry session, hitting a record high and finding strong support at 25,000. The “Saucer” formation suggests further gains if this support holds, with the highest Open Interest at 25,300 and 25,500 call strikes, and 25,000 put strikes.

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Nifty opened flat and traded within a narrow range, closing negatively at 24,205, noted Hrishikesh Yedve from Asit C. Mehta Investment Intermediates. He highlighted that

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