Immediate support for Nifty at 22,000?Experts outline key levels to watch post market crash
Vaibhav Jain, Head of Content & Education, Share.MarketWe are seeing Nifty 50’s support at 21,700 and 21,100. Currently, the Nifty 50 is hovering around 22,000 and a close above 21,700 would be a good point to consider taking long positions.On the upper side, 22,800 acts as the first resistance where we might see some profit booking, post which all time high of 23,338 will be a crucial point to break to see further upside.Technically, Nifty will find support near 21,250, where the 200-DEMA is located, and resistance near 23,340 levels in the short term.In summary, the market's reaction to the election results has introduced significant volatility, with various analysts highlighting key support and resistance levels to monitor.
Investors are advised to proceed cautiously, with opportunities to buy quality stocks during this period of uncertainty.Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
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