A closing above 51,480 for Nifty FMCG index would indicate a potential surge in buying activities, encouraging traders to consider selling near this mark
According to Ravi Nathani, an independent technical analyst, the Nifty Pvt Bank and Financial Services indices can be bought on dips, while the Nifty PSU Bank index seems range-bound on the charts.
According to Ravi Nathani, an independent technical analyst, the NSE Nifty 50 is likely to trade in the 19,350 - 18,800 range.
As per Ravi Nathani, traders should wait for the correction to complete and start buying Nifty IT index at or near the support level of 29,800
As per Ravi Nathani, adopting a buy-low, sell-high strategy for Nifty FMCG within the established range is the most prudent course of action
As per Ravi Nathani, the Nifty Private Bank index is poised to encounter a stronghold of support at 22,200, according to chart analysis.
Buy the Bank Nifty index either at the current market price of 43,600 or seize the opportunity below this threshold, says Ravi Nathani
According to Ravi Nathani, an independent technical analyst, one can consider to sell the Nifty IT and Metal indices near resistance levels.
The Nifty Auto index is exhibiting a bullish trajectory, and can be bought with a stop at 16,436, sugges3ts Ravi Nathani, an independent technical analyst.
The Nifty FMCG can potentially rally nearly 2 per cent from current levels, to near about 53,625, says Ravi Nathani, an independent technical analyst.
Whereas, one needs to be patience and await for a clear breakout on the Nifty Private Bank Index, suggests Ravi Nathani, an independent technical analyst.
Similarly, the Bank Nifty is seen consolidating in between the 44,764 - 43,781 points range, says Ravi Nathani, an independent technical analyst.
According to Ravi Nathani, an independent technical analyst, Nifty Midcap 50 seenms trapped in the 11,800 - 11,275 range for now.
According to Ravi Nathani, an independent technical analyst, Nifty Pharma index is oscillating between 15,450 and 15,000; whereas, the Metal index is moving in a range of 6,900 to 6,600.
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index stands resilient, and promises potential gains in this nuanced market landscape.
According to Ravi Nathani, an independent technical analyst, Nifty Financial index can be bought with a stop at 19,570.
According to Ravi Nathani, an independent technical analyst, Traders can either await a decisive breakout or opt for a riskier approach by shorting near the upper consolidation boundary.
The prevailing bias suggests a positive outlook, emphasizing a buy-on-dips strategy for Nifty Auto and its components, said Ravi Nathani
According to Ravi Nathani, traders eyeing Nifty FMCG index might find value in purchasing when the index nears the lower limit of its current range
According to Ravi Nathani, initiating trades before the breakout occurs is laden with risk, traders should act once the breakout signals the market's chosen direction