The Indian benchmarks snapped a two-day gaining streak to end in the red on Monday. (Photo: Envato) Show Quick Read Summary is AI Generated. Newsroom Reviewed
Analysts expect the Nifty 50 to see a phase of consolidation in the short-term, with immediate support at 25,000 and 25,100 levels.
The daily chart indicates that NSE Nifty has formed a small bullish candle, phase of consolidation with positive bias amid stock-specific activity, according to Bajaj Broking Research. "The Nifty has already rallied approximately 700 points over the past two weeks, pushing the daily stochastic indicators into overbought territory. This suggests that some short-term consolidation may be likely," said the brokerage.
"From a technical perspective, the short-term uptrend remains intact, although prof