Nifty settles below 15,000. Here’s what experts say investors must do on Tuesday

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Benchmark equity indices declined for the second trading session and closed with modest losses on Monday. The Nifty managed to close above the 14,900 level after slumping below 14,800 in the intraday. Rising domestic inflation and increase in COVID-19 cases sapped investor’s appetite for risk assets. As per the provisional closing data, the S&P BSE Sensex, tanked 397 points or 0.78% at 50,395.82. The Nifty 50 index lost 101.45 points or 0.67% at 14,929.30.

Here’s how experts believe the markets are likely to trade tomorrow

Ashis Biswas, Head of Technical Research, CapitalVia Global Research The market witnessed some swift recovery from its short-term support around the Nifty50 index level of 14,800 in the market. The expected level should range between 14,950 and 15,300, and it’s going to crucial for the short-term market scenario to sustain above the 14,800 to keep the long-term uptrend intact. While it is subject to further price action evolution, it is prudent to wait for a decisive breakout above 15,000 and technical factors to improve before going long in the market. The traders are advised to refrain from building a new buying position until further improvement is seen and a breakout above 15,000. volatility is observed to expand in today’s trading session.

Manish Shah, Founder, Niftytriggers.com On Monday, Nifty declined by 107 points but the day’s highlight was a sharp rally in the final hour of the day. It was a candle with a long lower shadow with a bullish tinge to it. Nifty almost hit the rising 50-day moving average and then bounced after making a low of 14,745. Nifty is experiencing an extreme contraction of volatility and how long will this phase of low volatility continue is difficult to estimate. We can only say that Nifty is in a range and the long term primary trend is still intact. Notwithstanding, short term day-to-day gyrations, the primary trend remains up. Since February Nifty trades in a wide band of 15,430-14,660. Though most emerging markets have lost ground in the last two weeks Nifty holds on at its resolute best. The volatility on a day to day basis is likely to continue for some more time. On an immediate basis, Nifty should see a rally to 15,050 and above this Nifty has a major resistance barrier at 15,090 and above that to 15,430. On the lower side, the support is at 14,750 a break below this and Nifty is likely to see a decline to 14,600-14,550.

Chandan Taparia, Motilal Oswal Financial Services It formed a small-bodied candle on the daily scale as buying is visible at lower levels but momentum is missing at higher zones. Now it has to continue to hold above 13,350 zones to witness an up move towards 13,650 then 13,750 zones while on the downside support exists at 13,400 then 13,300 zones.

Rohit Singre, Senior Technical Analyst, LKP Securities Nifty showed some pullback after touching its rising trend line on the daily chart, going forward 14,750 will be immediate and strong support if managed to hold then some more pullback possible towards immediate hurdle zone of 15,000 mark followed by 15,100 zone.