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Rex Harrison Cano has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and a proficient technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Rex Harrison Cano has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and a proficient technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
FIIs were net sellers in index futures for the fourth straight day yesterday. Open positions in Bank Nifty rose by nearly 12% amid the market fall. Here's what experts have to say.
Technical chart suggest that Muthoot Finance, Manappuram Finance and IIFL may witness some downward pressure in the near-term, and dip up to 17%; check key levels to track here.
Foreign institutional investors open interest in Nifty futures has increased by 4.8% since the start of February series, while the total OI in Nifty Feb futures dipped by 1.1%; shows NSE F&O data.
Technical chart shows key resistance for the stock at Rs 61.70; break and sustained trade above the same can trigger a sharp rally at the MTNL counter.
Technical chart shows that Nifty Metal has a strong support base around the 8,000-mark; In case, the index violates the same it can slide another 15 per cent from present levels.
Solar Industries, NCC, Phoenix Mills, Page Industries and Trent stock futures witnessed short build-up in recent days, shows NSE derivative data. Manappuram Finance in F&O ban on Monday.
The key support for the BSE Sensex stands at 76,300; whereas, the NSE Nifty 50 index could test 23,300 or dip to 23,150 levels; suggests technical chart.
SBI is testing the weekly super trend line support after 81 weeks and the 20-month moving average support after 4 years. Chart suggests that the overall bias is likely to remain tepid below Rs 800.
Technical chart shows that NCC and Sonata Software shares were seen testing multi-year supports; break of the same can trigger a deeper fall at these counters. Check key levels for these 5 stocks here
The Bank Nifty is expected to consolidate in the 50,000-50,600 range; a breakout in either direction will further set the next move for the index, says Hrishikesh Yedve of Asit C. Mehta.
On Thursday thus far, Nifty Bank, Nifty PSU Bank and Nifty Financial Services quoted with losses up to 0.8% in a slippery market; technical charts hint up to 8% potential upside on these indices.
Thermax was seen testing the super trend line support on the monthly scale for the first time since January 2021, while Timken India after September 2019; for trading guide check key levels here.
Technical charts show that shares of Infosys, ICICI Bank, Dr. Reddy's, Eicher Motors and Shriram Finance can potentially rally up to 15% from here on as Nifty attempts a pullback towards its 100-DMA.
Technically, a RSI reading above 70 is considered overbought for the stock, which could mean the stock may consolidate or correct in the near-term; but not necessarily fall.
Shares of Restaurant Brands Asia, Westlife Foodworld, Sapphire Foods India, Jubilant Foodworks and Devyani International can rally up to 15% from present levels, suggest technical charts.
DIIs, retail and proprietary traders continue to hold bullish bets in index futures, shows NSE derivative data. Technically, Nifty near support rises to 23,630.
The NSE Nifty is on the verge of a positive breakout after a gap of nearly 1.5 month; technical chart suggests the index could rally all the way to 24,250 levels.
Technical charts suggest that HEG stock is likely to witness another 25 per cent fall from present levels; while Nuvama Wealth could witness a relief rally towards Rs 6,125.
The Nifty Realty index has surged 14% in the last 7 trading days, with select stocks rising up to 27% in anticipation of a rate cut in the upcoming RBI Policy. Here's technical view on realty stocks.
The NSE derivatives data show that FIIs continue to hold a bearish bias, with 8.5 short positions in index futures for every long bet.