Investors are inclined to use dips in the market as buying opportunities, reflecting confidence in the potential for upward movements,'' he added.Īnalysts noted that the market scenario is changing fast. ‘’Despite the sideways trading range, the overall sentiment within this range remains bullish. This range-bound movement suggests a lack of a clear, sustained trend in either direction,'' said Shah. The index is currently stuck within a broad trading range, with support around 44,000 and resistance at 45,000. ‘’This signifies ongoing uncertainty and indecision among market participants. On the outlook for Bank Nifty, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said that the market witnessed a persistent struggle between the bulls and the bears, resulting in the index closing around the resistance level of 44,500.
On the other hand, we are seeing a rise in volatility across sectors with the beginning of earnings so traders should keep a check on stock selection and risk management aspects,'' said Mishra. ‘’We suggest continuing with a 'buy on dips' approach till it manages to hold 19,600. On the outlook for Nifty today, Ajit Mishra, SVP - Technical Research, Religare Broking reiterates bullish view. Market experts noted that frontline indices snapped the losing streak on the back of short-covering as positive Asian cues aided recovery and globally optimism over strong earnings helped ease concerns over the Israel-Gaza conflict.Īlso Read: FIIs invest ₹263 crore in Indian stocks as Sensex, Nifty snap 3-day losing streak DIIs infuse ₹112 crore
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