!Nifty

BAJAJ-AUTO

The Nifty traded in a narrow range today, indicating a phase of consolidation after the recent rally. Market participants remained cautious ahead of key global cues and earnings announcements, resulting in stock-specific action rather than a broad-based move. Technically, the index is holding above its immediate support zone, which suggests that the overall trend remains positive as long as key levels are respected. However, the market may continue to witness volatility in the near term. Key Levels to Watch: • Support: 22,300 – 22,250 • Resistance: 22,550 – 22,600 A sustained move above the resistance zone can trigger fresh buying momentum, while a break below support may lead to short-term profit booking. Market View: The broader trend remains cautiously bullish, but traders should stay selective and focus on stocks showing relative strength. Banking, Auto, and Capital Goods sectors may continue to drive momentum if buying interest sustains. Strategy: “Buy on dips” remains the preferred approach until the index decisively breaks below key support levels.