In terms of levels, immediate resistance for Nifty is noted at 22,900, followed by further resistance at 23,170 and 23,400. Conversely, crucial support levels are identified at 22,500 and 22,300.

Short term trend of Nifty turned bearish as it is placed below its 5, 11 and 20 DMA (day moving average)

If the Nifty 50 fails to maintain support at 21,930, then it could exacerbate panic in the market. On the higher end, resistance for the short term is positioned at 22,400.

In terms of levels, immediate resistance for Nifty is notable at 22,500, a significant level on higher time frames, with further resistance observed at 22,780 and 23,170. Conversely, crucial support levels are identified at 21,700 and 21,500.

The week ahead is expected to be volatile amid the contract expiry; hence, a pragmatic approach with exclusivity in stock selection is advocated.

Any level above 22,400 could push Nifty towards new all-time high and beyond.

Most private banking stocks remain strong forming higher highs and higher lows, which could lead Bank Nifty to make new all-time highs in the coming weeks.

It is advisable to consider buying opportunities at the current market price, targeting potential upside levels ranging from 22,783 to 23,170 on the Nifty.

Looking at the close of Smallcap and microcap indices, traders should remain cautious in those segments.

The market may move volatile between 22,000 and 22,550, so it's best to avoid catching short-term tops and bottoms.

Therefore, traders are advised to hold longs with a strict stop-loss at 21,800 levels. The upside momentum is likely to accelerate once the resistance of 22,310 is broken.