Nifty’s 22,200 defence may open the door to 23,600, says Geojit’s Anand James
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- ✓Nifty’s sharp rebound after defending the 22,200 support zone could extend towards 23,600, said Anand James of Geojit Investments.
- ✓He said, "The index must first post a sustained close above 22,800 to confirm that Friday’s recovery marks more than a relief rally." IT stocks also showed signs of leadership.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 7 Minute(s)
- Market Focus
- India Economy
Synopsis
Nifty’s sharp rebound after defending the 22,200–22,000 support zone could extend towards 23,600, according to Anand James, Chief Market Strategist at Geojit Investments. However, the index must first post a sustained close above 22,800 to confirm that Friday’s recovery marks more than a relief rally, he said. James also sees early signs of leadership emerging in IT stocks, while Bank Nifty could help stabilise the broader market.
Nifty’s sharp rebound after defending the 22,200–22,000 support zone could extend towards 23,600, according to Anand James, Chief Market Strategist at Geojit Investments. However, the index must first post a sustained close above 22,800 to confirm that Friday’s recovery marks more than a relief rally, he said. James also sees early signs of leadership emerging in IT stocks, while Bank Nifty could help stabilise the broader market.
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The Economic Times
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