Given the current market conditions, the best trading strategy for traders would be to buy the Nifty IT Index near the support levels and sell it near the resistance levels, said the technical analyst
According to the technical analyst, traders are highly recommended to accumulate the Nifty and its underlying constituents during any dips, preferably near the support levels
According to Ravi Nathani, an independent technical analyst, one can adopt a 'Buy on Dip' strategy in Nifty Energy, Commodities and MNC indices.
According to Ravi Nathani, an independent technical analyst, one should look to book profits in Nifty Realty either at current levels or on rally.
According to Ravi Nathani, an independent technical analyst, the Auto index seems trapped in the 12,950 - 12,830 range. Whereas, the FMCG index is expected to face stiff resistance around 47,200.
According to Ravi Nathani, an independent technical analyst, the Nifty Private Bank index can also be sold at current levels, with 21,250 seen as a crucial support for the index.
According to Ravi Nathani, an independent technical analyst, the Bank Nifty is expected to face resistance around 42,615-42,950-43,600.
According to Ravi Nathani, an independent technical analyst, the Nifty Midcap 50 Index may consolidate in a range of 8,800 - 8,736.
The Nifty Realty Index could face stiff resistance in the range of 445 to 457 levels.
According to Ravi Nathani, an independent technical analysts, the Nifty Metal Index is exhibiting a range-bound trade, whereas the FMCG index presents a 'Sell on rise' opportunity.
According to Ravi Nathani, an independent technical analysts, the Nifty Bank Index is expected to face significant resistance around the 42,700 level in the near term.
In case the Nifty faces resistance at 17,858, Ravi Nathani recommends adopting buy on dips strategy with support around 17,610 and lower levels.
The near-term trend is displaying a bullish bias for the Nifty Pharma index
Based on the technical analysis of the Nifty Auto index using near-term charts, it is anticipated that the index may continue its upward trend in the near to short term, said the technical analyst
Technical analyst Ravi Nathani says the best trading strategy for near-term traders would be to sell Nifty Bank on rallies, with a stop-loss of 41,364
Technical analyst Ravi Nathani expects the NSE benchmark index to consolidate in 17,150 - 17,850 range
According to the technical analyst, the Nifty Auto Index is expected to remain range-bound in the near term, with a potential breakout in either direction likely to trigger a directional bias
The technical analyst recommends to employ 'sell-on-rise' strategy for Nifty Private Bank, Nifty Consumption indices in the near-term
The technical analyst recommends to employ 'buy-on-dips' trading strategy for Nifty, given positive outlook for the index in the short term
The technical analyst recommends traders to employ a "sell on the rise" strategy when trading Nifty Commodities, given that its short-term pattern appears to be trading within a range of 5,600-5,400