The weak pattern of the bottom and bottom of the last month seems to have reversed the bottom and bottom of the last month as it was recently closed at the 23rd and 426th level on January 21st. This is an optimistic development, and eventually we could see the formation of optimistic higher tops and floors. The fundamental trend of nifty is still powerful. Bulls, which surpassed 23,500 obstacles, could turn to another resistance of 23,800 in the short term. Nagaraj shetti said immediate support is 23,400.
In the public interest (OI) data, the highest OI on the call was 23,500 and 23,600 hits, and the highest OIs on the foot side were 23,500 hits, 23,400, 23,400.
What should a trader do? The analysts said:
HRISHIKESH YEDVE, Asit C. Mehta Investment Interrmediates. From a technical point of view, Nifty exhibits strengths by forming strong rocks on the daily chart beyond 23,430 short -term obstacles. The index also lasted more than 23,310 to a simple moving average (21-DSMA), and immediately supported, and the 23,800 trend line resistance acts as a major obstacle. Traders are recommended to adopt a by-on deep strategy.
Rupak de, LKP Securities
NIFTY has a falling wedge brake out, which represents a short -term reversal. The index also moved over 21-period EMA to enhance the amount of momentum. In addition, RSI readings also support strong upward measures in the market. But it depends on how market participants react in and after the budget. The support is 23,300-23,200, and resistance is found at 23,600 and 23,800.
Satish CHandra Aluri, Lemon Market Desk
The benchmark index witnessed the budget preliminary budget rally, which extends profits for four consecutive days before the budget session on Friday. The wider medium and small indexes were more performance than the benchmark. It is a wide range of foundations for budget optimism on PSE stocks that lead the clear budget optimism and rally in the last few sessions with the infrastructure. Positive profit surprises of blue chips such as Nestle, Tata Consumer and L & T have helped emotions. The economic surveys expressed in today’s parliament also contributed to positive emotions, as the 6.3% -6.8% of the FY26’s growth projects coincide with expectations. Technically, Nifty 50 had a sharp rally towards 23,500 levels and eventually closed on it. The resistance of about 23,650 is expected to increase volatility in the budget presentation, while 23,200 can act as immediate support.
(Exemptions: Recommendations, suggestions, views, and opinions provided by experts are their own.
