Business Standard

Street signs: Traders eye a Nifty breakout, Aether Industries stock & more

Technical analysts say last week's trading range will act as good support and resistance and the next big directional move will depend on which side the index breaks out

NSE, Nifty, markets
Premium

Photo: Bloomberg

Samie ModakSundar Sethuraman
Traders eye a Nifty breakout 
The benchmark Nifty swung wildly last week between 15,740 and 16,400, before ending at 16,266. Technical analysts say last week’s trading range will act as good support and resistance and the next big directional move will depend on which side the index breaks out. Ruchit Jain, lead research analyst, 5paisa, says a move above 16,400 could lead to an upmove towards 16,800, while a break below 15,700 would resume the downtrend. A note by ICICIdirect says short covering could take the index towards 16,800-17,000 in the weeks to come.

Aether Industries’ shares trade at 5% in

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 22 2022 | 9:59 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com