Analysts said the index’s moving averages have also started to inch higher.
“Now, it has to be above 17,580 zones for an up move towards 17,777 and 17850 zones, whereas supports are placed at 17,580 and 17,442 zones,” said Chandan
of .
Options data suggests a trading range in between 17,450 to 17,800 zones.
What should traders do? Here’s what analysts said:
Rupak De, Senior Technical Analyst at
During the day, the Nifty remained above the previous consolidation high, suggesting a rise in optimism. Over the short term, the trend is expected to remain strong. On the higher end, resistance is visible at 17,950. On the lower end, support is placed at 17,550/17,400.
Deepak Jasani, Head of Retail Research, Securities
Nifty is undergoing a small pullback after the recent rise….