Can the Nifty scale past 23,000 this week? A look at key levels to watch

All eyes are on the market levels this week after the Nifty failed to close above 22,500 last week. Positive global cues are expected to boost sentiment. Market participants have noted that the Nifty 50 needs to jump above the 22,500 mark decisively for an uptrend as this has become a key resistance level while they’re seeing 22,200-22,300 level as an important support zone. 

“We believe that the current market texture is non-directional, and traders may be awaiting a breakout in either direction. For the bulls, the key breakout zone is at 22,650. A dismissal of the 22,650 breakout could push the market towards 22,800-22,900. Conversely, if the market falls below 22,300, selling pressure is likely to accelerate,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

Also, the rally in the global markets on Friday is likely to uplift domestic market sentiments. 

“On the downside, bulls have exhibited strong resilience at the 22,200-support zone, forming a well-defined trading range. With Nifty trading close to its 20-day EMA, a decisive breakout above 22,550 could ignite a short-covering rally,” said Dhupesh Dhameja, Derivatives Analyst at SAMCO Securities.

However, SBI Securities took a different stance and said that it would continue to remain cautiously optimistic on the market due to the recent recovery as well as valuation easing. “Investors are recommended to stick to quality businesses with supportive valuations for medium to long term investment horizon,” SBI Securities said.

ALSO READStock Market Live Updates: Sensex, Nifty set to open higher on positive cues Markets’ recap

Last week, the Indian equity markets suffered heightened volatility following the global markets, which was due to US recessionary fears and the trade tariff war. Also, foreign institutional investors remained the net sellers for the whole week. They sold Rs 5,730 crore in the cash market. However, the markets were lifted a bit by the retail inflationary data of both – the US and India. 

 » Read More

Related Articles

Buying vs Renting: Capital appreciation outpaces rental gains in major markets

The answer to the ‘rent or buy’ question keeps changing as the Indian housing market evolves. Latest ANAROCK data finds that capital values in key micro markets of the top 7 cities have grown by a significant 128% between 2021-end and 2024-end, while rental values in many micro markets have appreciated less than the overall

Top 5 SBI mutual funds with up to 30% annualised returns in 3 years

Mutual fund investors have seen massive erosion in their portfolio valuations over the last 6 months amid one of the longest corrections in the Indian equity market. So amidst all this, if you are thinking of investing, it is very important to focus on mid- to long-term returns also while choosing a fund because short-term

Warren Buffett’s Berkshire Hathaway raises stakes in five Japanese trading houses to near 10%

Warren Buffett’s Berkshire Hathaway raised its holdings in five Japanese trading houses, regulatory filings showed on Monday, in the U.S. conglomerate’s latest investments in Japan’s top commodity firms that began nearly five years ago. Berkshire’s stake in Mitsui & Co rose to 9.82% from 8.09%, while its holdings in Mitsubishi Corp, Sumitomo Corp, Itochu and

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Buying vs Renting: Capital appreciation outpaces rental gains in major markets

The answer to the ‘rent or buy’ question keeps changing as the Indian housing market evolves. Latest ANAROCK data finds that capital values in key micro markets of the top 7 cities have grown by a significant 128% between 2021-end and 2024-end, while rental values in many micro markets have appreciated less than the overall

Top 5 SBI mutual funds with up to 30% annualised returns in 3 years

Mutual fund investors have seen massive erosion in their portfolio valuations over the last 6 months amid one of the longest corrections in the Indian equity market. So amidst all this, if you are thinking of investing, it is very important to focus on mid- to long-term returns also while choosing a fund because short-term

Warren Buffett’s Berkshire Hathaway raises stakes in five Japanese trading houses to near 10%

Warren Buffett’s Berkshire Hathaway raised its holdings in five Japanese trading houses, regulatory filings showed on Monday, in the U.S. conglomerate’s latest investments in Japan’s top commodity firms that began nearly five years ago. Berkshire’s stake in Mitsui & Co rose to 9.82% from 8.09%, while its holdings in Mitsubishi Corp, Sumitomo Corp, Itochu and

SpiceJet founder Ajay Singh to infuse Rs 294 crore into airline through promoter group entity

SpiceJet on Monday (March 17) announced that its founder, Ajay Singh, will inject Rs 294 crore into the airline through a promoter group entity by converting warrants into equity shares. This move will increase the promoter group’s stake in the airline from 29.11 per cent to 33.47 per cent. Singh, who also serves as the

Swiggy Instamart expands to 100 cities across India, adds 32 new markets in 2025

Foodtech major Swiggy on Monday announced that its quick commerce platform Swiggy Instamart has expanded to 100 cities nationwide. In a regulatory filing, the company said that the expansion comes in the backdrop of the growing demand for 10- minute deliveries, particularly in tier 2 and 3 cities. During the previous month, Swiggy Instamart launched