A flat-to-positive opening is likely. Traders should focus on stock-specific opportunities and avoid aggressive leveraged positions
Nifty closed at 23,123 and remains below all major moving averages from 20 DMA to 200 DMA. Short-term, medium-term and long-term trends are all bearish.
Bank Nifty closed at 54,063.75 and is trading near the critical 54,000–54,200 option-chain battleground zone. Short-term trend remains bullish while medium-term and long-term trends are still bearish.
Reliance closed at Rs. 1263.30 and remains below all major moving averages. Short-term, medium-term and long-term trends are all bearish.
SBI closed at Rs. 981.95 and is trading just above the crucial 980 pivot zone.
Medium-term and long-term trends remain bullish despite recent corrective pressure.
CarTrade Tech closed at Rs. 2069.80 after gaining 5.69% in a single session. The stock has delivered a strong 16.80% return over the last week and is showing clear signs of momentum accumulation
As long as the index sustains above this support, a pullback towards 54,500–55,000 remains possible. However, a decisive break-down below 54,000 could trigger fresh selling pressure
The underlying trend of Nifty is weak and a decisive move below the support 23100 could open more weakness down to 22700
