According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is signalling potential correction, while the Metal index remains bullish.
According to Ravi Nathani, an independent technical analyst, given the overbought conditions on Nifty Pharma traders are advised to book profits and adopt a cash position for near- and short-term.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index has near support at 51,750, below which the index can slide to 50,990.
According to Ravi Nathani, an independent technical analyst, all the Nifty may seek support in the range of 19,550 - 19,300 levels.
According to Ravi Nathani, an independent technical analyst, all the three indices are presently displaying a bullish trend on charts.
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma index needs to clear hurdle at 14,150; whereas, the Realty index may show signs of correction by the month-end.
Meanwhile, the Nifty FMCG index is expected to consolidate in the range of 53,971 and 52,484, says Ravi Nathani, an independent technical analyst.
According to Ravi Nathani, an independent technical analyst, the outlook for Nifty Metal, Energy and Pharma indices is bullish and hence recommends to buy at CMP or on dips.
Meanwhile, if the Bank Nifty closes above 45,150 it would indicate fresh strength, says Ravi Nathani, an independent technical analyst.
In such a scenario, traders can benefit by adopting a selling strategy, particularly when the index rallies
The RSI for Nifty Pharma shows a pattern of lower highs and lower lows on the near-term charts; Nifty Auto is in the overbought zone and could see a potential correction
There is a strong resistance around the 6,525-mark, which suggests that the Nifty Metal index may struggle to surpass this level in the near future
The final target for the ongoing up trend in the Nifty PSU bank index is projected to be in the range of 4,620 to 4,875
It is crucial to set a strict stop loss at 19,525 to manage risk since resistance levels are projected at 19,380 and 19,490
Ravi Nathani, independent market analyst shares his trading strategies for Nifty Energy, and Nifty Commodities indices
Ravi Nathani, independent market analyst shares his trading strategies for Nifty Metal and Nifty Pharma indices; check out
According to independent market analyst, Ravi Nathani, both Nifty FMCG, and Auto indices hint at a bullish trend in the near-term, and traders can employ sell-on-rise strategy
Ravi Nathani, independent market analyst decodes technical charts for Nifty PSU Bank and Private Bank indices; check out
According to Ravi Nathani, independent technical analyst, charts suggest bullish trend for both Nifty50 and Nifty Bank indices
According to Ravi Nathani, an independent technical analyst, the outlook for Nifty Metal, Energy and Pharma indices is bullish and hence recommends to buy at CMP or on dips.