According to Ravi Nathani, an independent technical analyst, the Nifty IT index seems range-bound on charts, while auto in a declining trend.
According to Ravi Nathani, an independent technical analyst, the Nifty Financial Index seems to be in a discernible downtrend.
Trading strategy for Nifty50: The recommended trading strategy aligns with selling on upward movements
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG exudes a bullish short-term trend; while the Metal and Realty indices suggests a sell strategy.
A trade below 37,968 could prompt a stop-loss trigger for bullish positions on the Nifty Energy index, says Ravi Nathani, an independent technical analyst.
According to Ravi Nathani, an independent technical analyst, the Nifty IT index may face resistance around 38,380 and 39,360; while hurdle for the Auto index is placed at 20,450.
According to Ravi Nathani, an independent technical analyst, the Nifty PSU index is current exhibiting a range-bound pattern; whereas Pvt Bank seems weak.
According to Ravi Nathani, an independent technical analyst, the Nifty is moving in a trading band of 21,650 - 22,000.
The Nifty FMCG Index reveals a near-term downtrend on charts, with a support level expected around 53,725
The identified resistance levels for Nifty Auto are anticipated around 19,350 and 19,550
The Nifty PSU Bank index is undergoing a correction phase, and a fresh buying momentum is anticipated only if it closes above 6,225, as per Ravi Nathani
A detailed analysis indicates a trading range between 46,050 on the upper side and 44,430 on the lower side, as per Ravi Nathani
Nifty outlook: Short-term charts unveil a cautious scenario, where a fresh bullish momentum is anticipated only beyond the 22,124 mark, as per Ravi Nathani
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is seen oscillating between 37,930 and 36,136 trading range.
According to Ravi Nathani, an independent technical analyst, anticipated support levels on charts for Bank Nifty are identified around 44,600, 43,500, and 42,900.
A prospective downturn is anticipated, contingent upon the Nifty FMCG index breaching the crucial threshold of 55150, as per Ravi Nathani
Technical indicators for Nifty Pharma are aligning with the bearish sentiment as the RSI has declined to 59, signaling a potential downtrend, as per Ravi Nathani
Adding to the cautionary signals, the RSI in Nifty IT index has recently broken below the 70 mark, reaching a reading of 66.27, said Ravi Nathani
The recommended trading strategy for PSU Bank index is to "sell on rise" or consider booking profits and maintaining a cash position, says Ravi Nathani
It's imperative to acknowledge the negative divergence indicated by the RSI, suggesting a cautious stance on Nifty50, says Ravi Nathani