Business Standard

Positive trend ahead for Nifty IT, bearish on metal index: Ravi Nathani

As per the technical analyst, the best trading strategy for traders would be to buy Nifty IT either at the current market price or at dips, with a target of 31,500

Web Exclusive Premium

Ravi Nathani
NIFTY METAL

Last close: 6867.30

Outlook: Bearish


The stock market is currently experiencing a mixed performance with the Nifty Metal index trading in a narrow range, which could potentially indicate a breakdown in the near future. Henceforth, investors shall adopt a trading strategy that includes a strict stop loss at the resistance level of 6,970 and selling the index and its constituents at higher levels with a target of 6,500. Despite the index displaying a strong positive growth of 11.5 per cent, it is important for investors to be aware of the potential reversal of this trend,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 20 2023 | 8:47 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com