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[hfe_template id='11223'] [ad_1] Most technical charts and options data hint at a bullish setup. According to technical analysts, Nifty is expected to continue its upward trajectory towards 23,560, followed by 23,890, with immediate support at 23,000. Analysts suggest Tata Motors, UltraTech Cement, Sun Pharma, McDowell, UBL, ITC, Marico, HUL, Tata Consumer, and Lupin for short-term trading. SHILPA ROUT, AVP - DERIVATIVES RESEARCH, PRABHUDAS LILLADHER Where is the Nifty headed this week? Markets witnessed very strong whipsaws last week, with a massive correction that gave participants an unprecedented dip. However, ending the week with higher highs has restored hope among the Bulls. Options chain reflects strong immediate support at the 23,000 zone, indicating very aggressive Put writing. Meanwhile, 24,000 Call writers are holding maximum positions. This suggests a broad trading range for the week, hinting at a bullish setup. FIIs’ longs continue to remain on the lower en...

[hfe_template id='11223'] [ad_1] Technical indicators and options data suggest support base for the Nifty has shifted lower, making it challenging to surpass the 22,800 mark this week. The significant rise in India VIX indicates caution despite the ongoing up-trend. Technical analysts recommend considering stocks such as Biocon, BPCL, Coal India, Godrej Consumer, Sun TV, Infosys, TCS, HCLTech, Naukri, HUL, Dabur, and Marico for trade this week. JATIN GEDIA TECHNICAL ANALYST, SHAREKHAN Where is Nifty headed this week? We expect the Nifty to consolidate in the range of 22,700 – 22,300. The ideal strategy would be to look for signs of weakness and sell on rise around the resistance zone of 22,620 – 22,640 with a stop loss of 22,720 for the target of 22,280. Options data suggests aggressive call writing at 22,800 while unwinding was seen in 22,700 Puts, which have probably shifted to 22,500 strike which suggests the support base shifts lower and 22,800 shall be difficult to...