Nifty’s 22,000–22,500 zone seen as key support, 25,000–26,000 recovery target
Gautam Shah of Goldilocks Global Research says the Nifty's 22,000–22,500 band is emerging as a crucial support area after a long weak phase.
The 30-second read
- Nifty's 22,000–22,500 range is seen as a crucial support zone.
- Gautam Shah expects a recovery towards 25,000–26,000.
- Geopolitics, crude oil and global policy keep investors cautious.
IllustrationIndian equities have been weak and have lagged for an extended period. Investors are now looking for signs of a turnaround. According to a report first reported by Business Today, the Nifty's 22,000–22,500 range is emerging as a crucial support zone.
Gautam Shah, Founder of Goldilocks Global Research, sees a recovery target of 25,000–26,000 for the Nifty. His advice to investors is to stick with market leaders and the sectors that are performing better. He also expects the next year to be better than the last.
Caution remains. NDTV Profit first reported that market participants are staying careful because of geopolitical events, moves in crude oil and decisions on global policy.
Why it matters
Investors face a weak market, high crude and a weak rupee. The 22,000–22,500 zone is seen as key support and a possible entry point for long-term investors.
