Nifty share: In the short term, a strong rise past 25,000 levels might potentially expose the next upward resistance zone of 25,400-25,500. Nagaraj Shetti of HDFC Securities stated that immediate support is at 24,700.
Technical analysis: The Nifty share chart indicates an upward rebound.
On the chart for the day, a long bull candlestick has formed, indicating that the stock market will shortly return to the greater than usual. It may have seen that the Nifty share is building a double bottom type signal around 24,700 levels, which has to be verified by more gains. The index closed below its 50-DEMA but made a strong comeback.
Tuesday’s surge might be a motivator for the Bulls to attempt a comeback. Further sustained rise from here may corroborate a near-term bottom reversal pattern. In the short term, a strong rise above 25,000 levels might potentially expose the next upward resistance zone of 25,400-25,500. Nagaraj Shetti of HDFC Securities reported that immediate support is at 24,700.
According to the open interest (OI) information, the largest OI on the call position was recorded within 25,000 & 25,200 strike prices, whereas the highest OI on the put position was observed at 25,000 strike prices then followed by 24,800.
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What kind of growth does the Nifty share average reflect:
NIFTY is a stock market index that monitors the performance of 50 top NSE-listed businesses. The NIFTY 50 index includes firms like as Reliance Industries, Tata Consultancy Service (TCS), and Infosys. It functions as an example for the nation’s market for shares.
Where will the Nifty share be in 2025:
ICICI Direct projections the index to follow its historical path, with a goal of roughly 27,000 by March 2025. September has traditionally been a period of high instability. Over the last 19 years, September has caused the Nifty to fall by about 3% on 15 occasion.
How do you analyse Nifty share the latest developments:
There are various steps to studying a Bank Nifty chart. Begin by deciding whether you want to track daily, monthly, or weekly intraday activity. Analyse the chart to determine trend direction, themes, and notable price levels. Monitoring volume changes along with relevant technical parameters.
Will the Sensex hit 1 lakh:
Reaching the 1 lakh mark might be accomplished by the end of next year or early 2026, assuming a 15% annual growth rate, barring severe economic shocks. Aside from the current favourable conditions, important factors such as earnings growth, an enduring banking industry, and international liquidity will be important.
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