Last week we said in a stage of sausage cases, Nifty can find a lateral consolidation. That seems to be working very well. After opening with a wide gapdown, Nifty 50 has recovered almost the entire loss last week. As we indicated, the fall last week really gave a very good purchase opportunity. The graphics say that everything is fine for Indian markets
Nifty has 22,450 support. The NIFTY 50 index can increase to 23,200 and only 23,900 next week. Nifty has to break below 22,450 to be pressed during a drop at 22,000 and 21,700.
The Nifty Bank index has a support for 50,000-49,900. The bias is still positive. The Niftybank index can increase to 52,800.
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Posted on April 12, 2025