From Long Term Perspective Structure Of Market Remains Constructive

Technically, Nifty formed a Doji candle on daily scale while small bullish candle on weekly scale which suggests buying is witnessed at lower zones, according to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

"Index has got stuck in between 15000-15250 zones from past five trading sessions. Now, Nifty has to hold above 15050 to continue its bullish momentum towards 15250-15500 while on the downside major support can be seen around 15000-14850. Going ahead, with earnings season largely over, global cues will dictate the short term market trend. From the long term perspective, the structure of the market remains constructive and one can apply buy on dips strategy," he noted.