Combined with persistent fiscal deficits, slower global growth and rising geopolitical concerns, suggest gold is entering a 'higher-for-longer' regime, and may scale $5,000 over the next year, it said
On the daily chart, Nifty formed a bearish candle and continues to maintain a sequence of lower highs and lower lows for the fourth straight session indicating sustained pressure
A decisive close below 25,838 level could mark a short-term trend reversal for Nifty from bullish to bearish, potentially paving the way for a decline towards the next support near 25,740
Technical charts suggest that short-term trend of Sensex, Nifty and MidCap indices is positive, and can rally up to 11%; SmallCap, however, shows a negative bias. Here are the key levels to track.
Chandan Taparia of Motilal Oswal says BPCL share price has broken out of a falling supply trendline on the daily chart with high volumes, supporting positive outlook.
Stocks to buy today, November 6: Nifty has shown follow up selling after forming top two back-to-back indecision candlestick pattern on the weekly chart
The daily chart shows that Nifty is favourably placed, with shorter-term moving averages quoting above longer-term averages. Near support for the index is seen at 25,700 and 25,355 levels.
Data shows that over 50 per cent, or 255 stocks, from the Nifty 500 index had slipped below August 14 closing prices amid the over 3 per cent fall in Nifty 500 index from its recent high
The NSE Nifty 50 index has declined 1.5 per cent from its recent high; technical charts suggest the index is likely to remain in buy on dip mode as long as it manages to close above 24,975 levels.
Market experts believe that the short-term trend is bullish; but flag caution owing the weakening momentum on key technical indicators. Here are the key levels to watch out for on the Nifty.
Vinay Rajani, senior technical and derivative analyst at HDFC Securities, has recommended buying Groww Nifty India Railways PSU ETF, and Edelweiss BSE Capital Markets & Insurance ETF
