Market Performance

Indian equities rose for a fourth straight session with Sensex up 0.87% and Nifty gaining 0.7%.

Key Technical Levels

Traders watch resistance near 23,500 and support around 22,800, 23,200 ahead of Nifty expiry.

Crude Oil Impact

Brent crude traded around $105 a barrel after falling 7% in previous session.

Foreign Investor Activity

FPIs bought ₹31.15 billion while DIIs sold ₹3.92 billion in Monday's trading.

Religare Broking Analysis

Religare identifies support at 23,200 with fresh put writing strengthening downside cushion.

“On the technical front, the immediate support base is placed around 23,200, from where the index witnessed a notable reversal in the last trading session.”

Bajaj Broking View

Nifty closed above 50-day EMA and previous month's high of 23,175 signaling possible pause in decline.

Choice Broking Analysis

Nifty rebounded from 200-week EMA with breakout potential toward 23,700, 24,000.

“Technically, Nifty has staged a strong rebound from the 200-Week EMA and rising trendline support, followed by a breakout from its recent sideways consolidation.”

Investor Advice

Bullish traders advised selective accumulation of quality stocks with disciplined stock selection.

“The brokerage said a decisive breakout above 23,500 could take the index towards 23,800-23,900.”

Market Outlook

Nifty targets 23,800, 24,000 with key support at 22,800, 23,200 and resistance at 23,500.