Nifty faces key 23,200 hurdle, analysts remain cautious
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nifty rose nearly 2% last week to close around 23,050, but analysts remain cautious as the index approaches the key 23,200 resistance level.
- ✓Experts said the index formed a higher bottom near 22,400, signalling a potential trend reversal.
- ✓Investors got advice to buy DLF and Zensar Technologies for gains.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Synopsis
Nifty has recently surged by nearly 2%, approaching the resistance level at 23,200. Analysts recommend building long positions to capitalize on a potential breakout. Support is set between 22,600 and 22,800, serving as a buffer. Recommended stocks for investment this week include DLF and Zensar Technologies. Investors should exercise caution in the broader market until significant resistance levels are broken.
Nifty rose nearly 2% last week to close around 23,050, but analysts remain cautious as the index approaches the key 23,200 resistance level. A breakout above this zone could pave the way for gains towards 23,500–23,600, while support is seen in the 22,600–22,800 range.
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The Economic Times
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