After a volatile start to the week, the Nifty index has shown signs of recovery, trading flat at 24,840 on Friday. Market experts point to technical cues suggesting a possible upward momentum in the near term. CA Rudramurthy BV, a seasoned market analyst, highlighted the shift in market patterns over recent sessions. “Last week on … Read more
India’s benchmark indices, the Nifty and Sensex, ended their eight-day losing streak, led by private banks, auto, and IT stocks. The broader Nifty closed Wednesday’s session with a strong bullish candlestick following the RBI policy outcome and auto sales data. Commenting on the day’s action, Vatsal Bhuva, Technical Analyst at LKP Securities, said the Nifty … Read more
De also recommends ‘Buy’ on Bajaj Finance around Rs 980, with a target of Rs 1,050 and stop loss at Rs 944. The stock, currently trading at Rs 1,003.25, has staged a strong recovery from August lows of Rs 850 and is comfortably above its 21-EMA. However, De cautioned that RSI above 80 reflects overbought … Read more
“We saw Nifty break below the key support level of 24,500, which has been acting as a strong base since May. So, crossing back above 24,500 will be crucial because as long as we trade below it, the market may remain tentative. Last Monday also started strong but fizzled out at higher levels. So reclaiming … Read more
“Looking at the banking index, despite today’s correction, it’s hovering around a rising trendline support near the 56,500 zone. So, if we get a positive closing, that would be encouraging and could signal a reversal,” says Sneha Seth, Angel One.Definitely a very dull Friday and a weak end to the week as well. But how … 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
“Till we are above 25,000 on Nifty, this market is a buy on every dip. I will completely change my stand once we close below 25,000 or else use every dips to 25,200 as a buying opportunity in Nifty and sector specific, stock specific, you have lot of opportunity even in this consolidating market,” says … Read more
“We expect a strong up move in State Bank and State Bank can be bought. Currently, it is trading somewhere around 818, 820 levels. It can be bought with a stop loss of 802 and the upside that we are expecting is 855 on the State Bank,” says Rajesh Bhosale, Angel One. Considering levels on … Read more
While the RBI repo rate cut is undoubtedly a significant psychological and technical milestone, for Nifty to sustain above 25,000, the upcoming macro data and corporate earnings will be key, Mayank Jain, Market Analyst, Share.Market said as he advise investors to watch for consistent institutional flows and sector rotation to confirm if this breakout holds. … Read more
“The overall biasness remains positive for Nifty and Bank Nifty as well. In case of Nifty as well if someone wants to go ahead and take a long position, they can, keeping a strict stop loss of 24,500,” says Sneha Seth, Angel One.Firstly, how do you pencil in the move for the index, once again … Read more