From a technical perspective, the Nifty is currently hovering around key moving averages across various timeframes, suggesting the potential for further downside. The immediate support is placed at 23,800, and a decisive break below this level could extend the decline toward 23,200.
On the upside, any rebound is expected to encounter strong resistance in the 24,400–24,600 range. Meanwhile, the banking index is exhibiting relative weakness and may continue to underperform. It faces immediate support at 53,000, with a more robust support level near 52,400. Conversely, a sustained close above 55,000 could open the path for an upward move toward 56,000.
D-Street trading strategy for next week
Looking ahead, heightened geopolitical tensions have substantially increased market volatility, as evidenced by the spike in the India VIX. In this environment, investors are encouraged to adopt a stock-specific approach and avoid aggressive positioning until greater clarity emerges.
Employing a hedged strategy is advisable to mitigate near-term risks, while close attention to geopolitical developments will be critical in determining the market’s direction moving forward.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.