Holding 21,950 can take Nifty to higher supports: Analysts

Nifty is facing downward pressure, and a drop below 21,950 is expected to initiate a sell-off towards 21,770, said technical analysts. However, the FII long-short ratio in the index futures stood at around 32%, suggesting that the markets might be nearing oversold territory. Analysts said if the Nifty closes above 22,150, it could present a buying opportunity. Some short-term trading recommendations include SBI, HUL, TCS, Emami, GMR Airports, Fiem Industries, Vinati Organics, and Astral.

KAPIL SHAH
TECHNICAL ANALYST, EMKAY GLOBAL FINANCIAL SERVICES

Where is the Nifty headed?