Indian equities may extend their upward momentum next week, with Nifty heading towards 25,300 and Bank Nifty likely attempting 55,200, said Rajesh Palviya, Senior VP – Technical and Derivatives Research at Axis Securities. “Nifty managed to give a breakout of the falling trend line on the daily chart and comfortably holding above all its near-term, … Read more
“Looking at the put-based concentration, Nifty is currently trading below the major put base at 25,300. On the call side as well, major writers have shifted their positions to the 25,300 and 25,200 strikes. This clearly indicates that we may witness further pressure if Nifty continues to trade below the 25,300 level next week. That … Read more
“If Nifty at all crosses above 24,800-24,850 zone, then we could see some bit of short covering to trigger in Nifty trades and then this pullback can extend further towards 25,000. But overall, 25,000 may act as a stiff resistance for any pullback in the near-term perspective,” says Rajesh Palviya, Axis Securities.What are the levels … Read more
“Bank Nifty is also trying to get support around 55,000 which is the immediate put-based concentration,” says Rajesh Palviya, Axis Securities.So, the market is quite in a choppy zone right now. Before you give us you take on your picks for the day, I want to understand the support levels that you are looking at … Read more
“For this September series, we expect the range for September series for Nifty is 24,800 on the downside and on the higher side 25,600, this is going to be the possible range for Nifty. For Bank Nifty, the immediate supply zone which is placed is around 51,500 which is very important level to cross on … Read more
“So, the way broader market is participating, sectorial rotation is happening, now the IT is on the front seat for this rally, so the way market is doing the sector rotation that is clearly giving us confidence that ahead of budget maybe we can see further higher level towards 25,000 level also,” says Rajesh Palviya, … 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
The Nifty50 started the week on a positive note and remained extremely volatile on either side throughout the Budget week. The Nifty closed at 21854 on the 2nd of February with a gain of 501 points on a weekly basis. On the weekly chart, the index has formed a bullish candle with an upper shadow, … Read more
The Nifty started the week on a positive note but witnessed selling at higher levels to end the week on a weak note. The Nifty50 closed at 21622 on 19th January with a loss of 272 points on a weekly basis. On the weekly chart, the index has formed a Bearish candle which engulfed its … Read more
“Until the Bank Nifty does not cross this 40000 level a major short covering is not going to happen in the system. Most of the call writers for monthly expiry are writing the position around 40000 strike,” says Rajesh Palviya, Axis Securities. What levels you will be tracking for Nifty 50. For Nifty as well … Read more