Nifty on Wednesday ended 17 points lower to form a high wave type candle on the daily chart. The index largely traded sideways and failed to generate any significant directional breakout. The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further upmove. A … Read more
“The Nifty IT sector has faced downward pressure for the past few days. However, stalwarts like TCS and HCL Tech exhibit resilience on longer-term charts, suggesting potential buying opportunities amid corrections. We remain watchful of Nifty IT’s ability to hold the 100-day moving average; sustaining above it could signal further buying interest,” says Rajesh Palviya … Read more
During the Diwali Muhurat trading session, traders do not look at intraday or overnight gains, says Anand James, Chief Market Strategist at Geojit Financial Services. Nifty having taken support at 19329, the recent reaction low on Friday, a buy on dips mode is in play, which augurs well for Muhurat day and for those worrying … Read more
Elgi Equipments, part of the capital goods industry, has rallied more than 100 per cent in a year and the rally may not be over yet, suggest experts. Investors who missed out on the rally seen in the compressors and pump company can look at accumulating the stock now or on dips for a possible … Read more
Foreign institutional investors, who are worried over expensive valuations in a rising interest rate scenario, are using any rise in Indian stocks to sell while domestic investors are using the dip to buy. Market data shows that domestic investors, led by retail investors, have been able to offset around 80 per cent of the Rs … Read more