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James believes derivatives positioning and options data suggest traders are shifting their bullish expectations higher, with the market attempting to establish a new support base around 24,400-24,500. A decisive move above 24,800, he says, could pave the way for the benchmark index to extend its rally towards the 25,000 mark, provided banking stocks also join the advance.
Nifty's next big move hinges on 24,800, says Geojit's Anand James
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James believes derivatives positioning and options data suggest traders are shifting their bullish expectations higher, with the market attempting to establish a new support base around 24,400-24,500. A decisive move above 24,800, he says, could pave the way for the benchmark index to extend its rally towards the 25,000 mark, provided banking stocks also join the advance.
Key Highlights
James believes derivatives positioning and options data suggest traders are shifting their bullish expectations higher, with the market attempting to establish a new support base around 24,400-24,500.
A decisive move above 24,800, he says, could pave the way for the benchmark index to extend its rally towards the 25,000 mark, provided banking stocks also join the advance..
Source
Economic Times
Published
2h ago
Impact Score
85 / 100
Category
Equity
Moderate near-term volatility expected while markets assess implications for Equity.
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