Support Zone 22475-22385
Resistance Zone 22775-22900
Buzzing Stocks: RVNL, Tata Chemicals, NMDC, Adani Power, JNK India, UCO Bank, RITES, Jana SFB, KFin and others
A long build-up was seen in 61 stocks, including Balrampur Chini Mills, Aditya Birla Capital, UltraTech Cement, ABB India, and Mahindra & Mahindra
The market momentum turned strong especially after negating the bearish Dark Cloud Cover pattern formation seen in Friday's trade and continued to trade above all key moving averages, which is a positive indication. Hence, the Nifty 50 is likely to move towards its previous record high of 22,776 in the coming sessions and closing above the same can take the index towards 23,000 mark in May series itself, with immediate support at 22,500 and key support at 22,300, experts said.
Resistance Zone 22775-22900
Buzzing Stocks: RVNL, Tata Chemicals, NMDC, Adani Power, JNK India, UCO Bank, RITES, Jana SFB, KFin and others
A long build-up was seen in 61 stocks, including Balrampur Chini Mills, Aditya Birla Capital, UltraTech Cement, ABB India, and Mahindra & Mahindra
The market momentum turned strong especially after negating the bearish Dark Cloud Cover pattern formation seen in Friday's trade and continued to trade above all key moving averages, which is a positive indication. Hence, the Nifty 50 is likely to move towards its previous record high of 22,776 in the coming sessions and closing above the same can take the index towards 23,000 mark in May series itself, with immediate support at 22,500 and key support at 22,300, experts said.
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prashanth