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Nifty on Thursday ended 173 points higher to test the immediate hurdle of short-term moving average i.e. 20-EMA, but it couldn’t surpass it amid weekly expiry.On the daily charts we can observe that the index is in the process of retracing the fall it has witnessed from 22,526 – 21,710. The key retracement levels are placed at 22,118 – 22,214. So, the rally is likely to continue over the next few trading sessions. Intraday dips towards support zone 21,950 – 21,930 should be used as a buying opportunity, said Jatin Gedia of Sharekhan said.Analysis of the Open Interest (OI) data reveals the highest OI on the call side at the 22,200 strike price, followed by the 22,500 strike price. On the put side, the highest OI is observed at the 21,800 strike price.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesNifty rallied following a Doji candlestick pattern on the daily chart, indicating a robust bullish reversal. Additionally, the index has successfully reclaimed the crucial 50-day Simple Moving Average (SMA). Looking ahead, the Nifty could potentially extend its gains towards the range of 22,250-25,300. Moreover, a breakthrough above 22,300 may initiate a rally towards 22,500 and beyond. The buy-on-dips strategy is expected to remain viable as long as the Nifty maintains levels above 21,840.Osho Krishan, Angel OneFor now, 21,870-21,800 is likely to be seen as intermediate support, followed by the recent swing low of 21,700 from a short-term point of view. While on the higher end, the 20 DEMA around 22,100, followed by 22,150-22,200 remains a daunting task for the bulls and until a decisive attainment, tentativeness is likely to persist.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

A top US admiral has issued a stark warning about China's military and nuclear ambitions, indicating that Beijing is ramping up its military and nuclear capabilities to levels unseen since World War II. Admiral John Aquilino, leader of the Indo-Pacific Command, testified before the US House Armed Services Committee, highlighting China's readiness to invade Taiwan by 2027.China's Military Buildup and AmbitionsDespite economic challenges, China has significantly increased its defense budget, which now exceeds $223 billion, marking a 16% increase in recent years. Aquilino reported that since he assumed command three years ago, the People’s Liberation Army (PLA) has bolstered its forces with over 400 fighter aircraft, more than 20 major warships, and has doubled its inventory of ballistic and cruise missiles since 2020."All indications point to the PLA meeting President Xi Jinping’s directive to be ready to invade Taiwan by 2027," Aquilino stated. He highlighted the PLA's rehearsal of various operations against Taiwan, including simulating encirclement tactics with maritime and air blockades.Global Concerns and US ResponseUS lawmakers and officials have expressed growing concerns about Xi Jinping's intentions regarding Taiwan, particularly in light of his goal for China's military to become a "world-class force" by 2027. The US intelligence community believes that while China is determined to reunify Taiwan with the mainland, it prefers to avoid military conflict.Representative Mike Rogers, chair of the House Armed Services Committee, emphasized China's significant military advancements, including the deployment of modern systems like hypersonic weapons and fifth-generation fighters. He also highlighted China's partnership with Russia, which has provided economic and security assistance for the invasion of Ukraine.Taiwan's Response and Global PreparednessTaiwan has detected increased Chinese military activity, with 32 Chinese military aircraft and five naval ships operating around the island in a 24-hour period. Taiwan's armed forces remain vigilant, employing patrol aircraft, Navy vessels, and coastal missile systems in response to these activities.The US and its allies have been preparing for potential military conflicts between Taiwan and China in recent years. Taiwan, a self-governing island with direct presidential elections, has been a point of contention, as China considers it a "sacred and inseparable part" of its territory.(With inputs from Agencies)

Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found.A nonperforming asset refers to loans or advances that are on the brink of default.According to the survey, a large majority (77 per cent) of the respondent banks reported a decrease in the NPA levels in the last six months.All responding public sector banks have cited a reduction in NPA levels, while amongst participating private sector banks, 67 per cent banks have cited a decrease.None of the respondent public sector banks and foreign banks have stated an increase in their NPA levels over the last six months while 22 per cent private banks reported an increase.Among the sectors that continue to show high level of NPAs, most of the participating bankers identified sectors such as food processing, textiles, and infrastructure.According to the survey, respondent banks were more sanguine about the asset quality prospects in the current round of the.Over half of the respondent banks in the current round believe that gross NPAs will be in the range of 3 per cent - 3.5 per cent over the next six months. About 14 per cent respondents were of the view that NPA levels would be in the range of 2.5- 3.0 per cent.As per respondents, some of the sectors that may continue to show NPAs over the next six months include textiles and garments, agriculture and gems and jewellery.The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking industry, as classified by asset size.In regards to requests for restructuring of advances, the survey found they have declined in the Indian banking space.Loan restructuring is a method used by borrowers and lenders to avoid defaulting on current debts by negotiating the loan terms. It can be done, among others, by reducing the loan EMI, extending the loan repayment tenure, or altering the previously agreed upon interest rate.According to the survey, around 44 per cent of respondents reported a decrease in requests for restructuring of advances in the current round of the survey as compared to 54 per cent in the previous round.The proportion of respondent banks citing an increase in requests for restructuring of advances was 17 per cent, which is the same as in the previous round.Bank-wise analysis revealed that 50 per cent of participating public sector banks have cited a decrease in requests for restructuring of advances, while 30 per cent of such respondents have reported increase in such requests.In the case of participating private sector banks, half the respondent banks have cited a decrease, while just 10 per cent have stated that there has been an increase in restructuring over the last six months.All participating foreign banks have cited no change in the request for restructuring of advances.A resilient domestic economy accompanied by a pick-up in credit growth supported by government capex, a rising provision coverage ratio, restructuring and rehabilitation of all eligible stressed units, and a robust recovery mechanism, were cited as the key factors by respondent bankers who expect asset quality to further improve over the next six months.As per respondents, some of the sectors that may continue to show NPAs over the next six months include textiles and garments, agriculture and gems and jewellery.