Nifty Prediction For Monday, Next Week: Small Positive Candle Indicates Consolidation; Expert Views On Trading View, Support, Resistance

Nifty Prediction For Monday, Next Week: Small Positive Candle Indicates Consolidation; Expert Views On Trading View, Support, Resistance

Nifty Prediction For Monday, Next Week:

The Indian stock market closed flat on Friday (March 7) after a highly volatile session amid global trade uncertainties. The Sensex ended its two-day winning streak, slipping by 7.51 points to close at 74,332.58, while the Nifty index gained marginally by 7.80 points, closing at 22,552.50.

Market analysts suggested that Nifty’s short-term momentum remains positive, with potential upside levels in the coming sessions. However, key resistance and support zones will play a critical role in determining the next market move.

Nifty Trading View, Support, Resistance By Experts

Nifty Prediction For 10th March 2025

Rupak De, Senior Technical Analyst at LKP Securities, noted that Nifty formed a small-bodied positive candle on the daily chart, indicating a consolidation phase. Heavy put writing was observed at 22,300, while decent call writing was seen at 22,800. This reflects positive market sentiment for the short term.

“The short-term trend for Nifty remains positive. Immediate resistance is seen in the range of 22,700 to 22,750, while strong support lies around 22,400. If Nifty falls below 22,400, it may trigger fresh selling pressure,” said the market expert.

Nifty Support And Resistance Levels

Ajit Mishra, SVP, Research, Religare Broking, stated that Nifty is approaching its immediate resistance at 22,700. The index will require fresh triggers to break above this level and continue its upward journey.

“Traders should maintain a cautious but positive approach and focus on prudent position sizing. Crossing 22,700 decisively could push Nifty towards 22,800, while any dip below 22,400 could induce fresh selling pressure,” he added.

Nifty Chart Trading View Analysis

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, mentioned that Nifty formed a small positive candle with an upper shadow on the daily chart, signaling a consolidation at overhead resistance.

“Nifty closed above 22,500, which helped fill the downside gap from February 28. The short-term trend remains positive, and a sharp breakout above 22,750-22,800 could extend the current rally. On the downside, 22,250 will act as strong support,” he said.

Nifty Resistance At 20-Day EMA

Devarsh Vakil, Head of Prime Research at HDFC Securities, pointed out that Nifty is facing strong resistance around the 21-day Exponential Moving Average (EMA) near 22,700-22,725. However, it has maintained its 10-day EMA and the 22,500 breakout level, keeping the short-term outlook bullish.

“Nifty has solid support around 22,300, and a breakout above 22,700 could lead to a sharp upside towards 22,800. However, if Nifty falls below 22,200, we may witness fresh selling pressure,” he added.

Strong Support Zone From 22,200 To 22,300

Dhupesh Dhameja, Derivatives Analyst at SAMCO Securities, said that Nifty has established a strong support zone around 22,200-22,300, as every minor dip is being absorbed by strong buying interest. However, the 20-day EMA at 22,700 is acting as a major resistance.

“For the market to continue its upward momentum, Nifty must clear the 22,700-22,750 resistance zone. Failure to break this level may result in range-bound trading, while sustaining above it could push Nifty towards 22,800-22,850,” he explained.

Conclusion

The overall market sentiment remains positive, with Nifty poised for a potential breakout if it surpasses the 22,700-22,750 resistance zone. However, strong support is observed at 22,200-22,300, and any dip below this level could trigger fresh selling. Traders should maintain cautious optimism and closely monitor these key levels.

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