The Nifty 50 index witnessed a volatile session today as it attempted to breach the crucial 22,000 mark but failed to sustain below it. The index touched an intraday low of 22,004.70 before rebounding, currently at 22,139.10, up 14.40 points (+0.07%) at 1:11PM.
The day started on a positive note with Nifty opening at 22,194.55, but it faced selling pressure at higher levels, with the day’s high reaching 22,261.55. As the session progressed, bears took control, pushing the index to the 22,004.70 level, which tested the psychological support zone. However, a strong recovery followed, indicating buying interest around lower levels.
Market experts believe the index’s resilience suggests a strong base around 22,000, but a decisive breakout above 22,250-22,300 is required for sustained bullish momentum. Factors such as global market trends, FII activity, and upcoming macroeconomic data will continue to influence market sentiment.
Traders and investors will closely watch whether Nifty can hold above 22,000 in the coming sessions and attempt another breakout towards new highs.
