Nifty Outlook

The weekly F&O data also highlights significant build-up in open interest at the 17,700 Put, suggesting likely support at this level.

Crisil, Hindustan Aeronautics, MRPL, ITC, and Welspun Corp have logged smart gains despite the broader market weakness.

The technical analyst from HDFC Securities recommends buying Transport Corporation of India basis charts

The technical analyst from HDFC Securities sees the next major support for the Nifty at 15,700-level.

Real estate and automobiles, which were showing signs of a nascent recovery, will bear the brunt of higher interest rates

The derivative analyst from HDFC Securities recommends buying Nifty 17,300 Call and simultaneously selling 17,500 Call for the May 05 expiry.

The technical analyst from HDFC Securities recommends buying Action Construction Equipment and Bandhan Bank.

Overall, the Nifty IT index has declined 19 per cent from its historic peak of 39,446 recorded in early January, 2022. Charts indicate 31,000 to 30,000 as the accumulation range for the index.

According to the technical analyst from Anand Rathi, Genus Power has confirmed a multi-year breakout above the Rs 95 mark, and seems poised to rally towards Rs 140 in the next few months.

The technical analyst from HDFC Securities has buy call on ICICI Prudential Gold ETF and sell call on Mothersonsumi.

The technical analyst from HDFC Securities expects the Nifty to find support around 17,450-odd levels.

AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.

The technical analyst from HDFC Securities expects the Nifty to find support in the range of 17,703 to 17,791.

The NSE Nifty Bank can rally to the 40,000-mark, after it successfully conquers its 200-DMA.

The technical analyst from HDFC Securities expects the Nifty to rally towards 17,794 on a breakout above 17,500-level.

SATISH RAMANATHAN, chief investment officer for equity at JM Financial Asset Management says the investment firm has increased cash levels marginally across portfolios to ride out the volatility.

The technical analyst also expects the Nifty to rally to 17,484 to 17,794; the support is now raised up to 17,100 level.

If the BSE Sensex and the NSE Nifty 50 cross their respective 100-DMAs, the benchmarks can easily rally another 2.50 per cent each.

The technical analyst expects the Nifty to turn bearish below 16,555; whereas on the upside sees resistance around 16,927 and 17,040 levels.

Similarly, the Bank Nifty may shed another 7 per cent to 30,500-31,000 levels.