The Nifty 50 Index is currently trading at 22,952.00 and has rallied significantly in the near term, bringing it close to a stiff resistance zone around 23,050
Technical indicators such as the RSI, MACD, and Stochastic are showing signs of potential correction and underperformance for the Nifty Pharma index
The Nifty IT Index is currently priced at 33,613.05, indicating a bullish trend in the near term. Given this upward momentum, the best trading strategy for traders would be to buy the index either at
The Nifty PSU Bank Index, currently at 7,264.75, exhibits a bullish trend on the charts. However, it is approaching a significant resistance range between 7,265 and 7,365
The Nifty Mid Select Index, currently at 11,336.85, displays a bullish trend on the charts. However, it is approaching a stiff resistance level around 11,450
The Nifty FMCG Index is showing a bullish trend on the charts, with the potential for a fresh bullish breakout if it closes above 55,500
The Nifty Bank Index, currently trading at an unspecified price, has experienced a sharp correction on the charts recently. However, there are indications of a potential technical bounce in the near
The Nifty Financial Services Index, currently trading at 21,249.80, has recently experienced a correction but is showing early signs of a potential rebound on daily charts
The Nifty 50 Index, currently trading at 22,055.20, has recently undergone a sharp correction, leading to oversold conditions on near-term charts
The Nifty Energy Index, currently priced at 38,458.00, is displaying a downward trend in the near term according to the charts
The Nifty Auto Index, currently priced at 22,458.65, is exhibiting a downward trend in the near term as per the charts
Despite the near-term bearish trend observed on charts, the correction presents an opportunity for traders to consider buying the index and its constituents on dips
The Nifty Financial Services Index is currently priced at 21,743.70 and is exhibiting notable support and resistance levels in the near term
The Nifty 50 Index is currently trading within a short-term range of 22,800 to 21,700. A breakout above or below this range could signal the next directional move for the index
Nifty Bank strategy: On the downside, support levels are expected to be around 48,800 and 48,600 for the Nifty Bank index, charts show
Market trading strategy: A suitable stop-loss level for the Nifty50 index could be placed at 22,675, providing a buffer against potential losses
The Nifty Auto Index, currently trading at 21,896.90, is exhibiting a downward trend on the near-term charts. Given this scenario, the optimal trading strategy would be to adopt a "sell on rise"
According to Ravi Nathani, an independent technical analyst, the best trading strategy for Nifty Auto and the Nifty Energy indices seem to be 'sell on rise'.
According to Ravi Nathani, an independent technical analyst, the Nifty Bank index is expected to face stiff resistance in the 48,500 - 48,900 range.
The Nifty Financial Services Index, currently trading at 21,326.50, appears to be poised for a near-term bounce, potentially representing a technical rebound on the charts