Nifty may be in accumulation phase, says Anand James; Ather, Nazara top bets
Nifty’s September series begins with a cautiously positive undertone, with options positioning indicating support at 24,000–24,100 and resistance at 24,200–24,500. A decisive breakout could trigger further gains, while a break below 24,000 may invite downside. Meanwhile, Ather Energy and Nazara Technologies remain among the top stock picks, with analysts seeing further upside after recent bullish…
Nifty has declined by approximately 1% throughout August and has not managed to reclaim its 200-day moving average. According to Anand James, Chief Market Strategist at Geojit Investments, the index might be entering the accumulation phase instead of embarking on a more severe correction, provided the critical 24,000 support level remains intact.
James predicts that if Nifty breaks above 24,500, it could move towards 24,900-25,100 and eventually reach 25,500. Conversely, if it falls below 24,000, it could plummet to 23,700.
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