Ajit Mishra says that Nifty's inability to sustain above the 20-DEMA, keeps the near-term outlook cautious. Flags higher-high, higher-low pattern on Bharti Airtel for his positive stance.
Stocks Ideas: Chennai Petro is showing signs of recovery after recent volatility, with the share price sustaining above its 50-EMA, says Sachin Gupta of Choice Broking.
Stocks to buy today: The 22,200-22,400 zone is the next key support area, while the 23,000-23,300 zone is likely to cap the upside during any recovery.
Stocks to buy today: Kunal Kamble, senior technical research analyst at Bonanza, has recommended three stocks: Jindal Saw, BHEL and Allied Blenders and Distillers.
Ajit Mishra of Religare Broking has reiterated a cautious stance on Nifty, with 22,850, coinciding with the 20-DEMA, acting as the immediate hurdle. He has recommended HAL, IndiGo and BHEL for trade.
Nifty outlook today: Jatin Gedia of Teji Mandi Investment said that if the Nifty surpasses the immediate hurdle at 22,800, it could trigger a short-covering rally towards 23,000-23,150.
Chandan Taparia has said Nifty has given an inside bar breakout in the previous session, indicating a strong recovery. If Nifty holds above 22,700, it may bounce towards 22,850 and then 23,000 levels.
From a technical perspective, the 22,200-22,000 zone emerges as a crucial support threshold, and any decisive breach below this range could weaken the near-term market structure further.
