For the Nifty, sustaining above 25,000 will be a positive, as that could open up the potential for further upside. However, the bulls would want to see any dip down to halt at 24,800 – 24,750 levels, which analysts had earlier projected to be a congestion zone before the breakout past 25,000.
For the Nifty, sustaining above 25,000 will be a positive, as that could open up the potential for further upside. However, the bulls would want to see any dip down to halt at 24,800 – 24,750 levels, which analysts had earlier projected to be a congestion zone before the breakout past 25,000.
The Nifty Bank, after the recent rally, is now only 3,000 points away from its record high levels. HDFC Bank performing last week is a big positive and the bulls would hope that this outperformance sustains. The 58,000 – 59,000 range for the Nifty Bank is a broad one.
There is a possibility of muted participation today considering the long Diwali weekend, and Tuesday being a market holiday. Most of the result reactions played out during the Muhurat trading session itself, but do keep an eye on index heavyweights like RIL and HDFC Bank, and whether Sunday’s outperformers like Finolex, RR Kabel, Divi’s Labs, and others see follow-up buying.
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