The daily chart continues to display a negative pattern with lower tops and bottoms, indicating a potentially further downward trend. The current upside bounce could lead to another lower-top formation in the short term. If Nifty moves higher, it could face a strong resistance at the recent down gap from January 13 around the 23,350 levels. According to Nagaraj Shetti of HDFC Securities, the near-term trend remains weak, and the bounce could present a sell-on-rise opportunity near 23,350, with immediate support at 23,050 levels.
F&O Talk| Nifty eyes further gains after crossing 25k mark: Is 25,600 the next target? Sudeep Shah weighs in
The Indian stock market rebounded strongly this week. Nifty 50 crossed 25,000, recovering previous losses. Operation Sindoor boosted market sentiment. Midcap and Smallcap indices also
May 17, 2025