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Vinay Rajani, who holds a Chartered Market Technician (CMT) designation, serves as a senior technical and derivative analyst at HDFC Securities. He has more than 16 years of experience in the financial markets. Rajani's contributions have significantly impacted the financial landscape, making him a well-regarded name in the industry.
Vinay Rajani, who holds a Chartered Market Technician (CMT) designation, serves as a senior technical and derivative analyst at HDFC Securities. He has more than 16 years of experience in the financial markets. Rajani's contributions have significantly impacted the financial landscape, making him a well-regarded name in the industry.
The Nifty50 has recovered more than 62 per cent of the entire fall which was registered from 14,653 to 14,222
The stock price of Cadila Healthcare has broken out from the consolidation which held for last three weeks
Immediate resistance for the Nifty is seen at 14,890
Support for the Nifty index has shifted to 13,950 levels
Nifty50 has been finding support at its 8-day EMA, which is currently placed at 13,438
As far as support is concerned, 13,145 is a crucial level to watch out for
Trading longs should have stoploss at 11,700 in Nifty
Nifty is forming a symmetrical triangle with "shortall" in place on the daily chart, which indicates that the chances of bullish breakout is higher than the bearish breakout
Previous top on the daily charts is placed at 11,794, which is likely to provide support to the index
Support for the Nifty is shifted up to 11,400, which should be kept as a stop loss in long positions. The upside target for Nifty is seen at 11,800 odd levels
Close above 11,585 would negate the bearish setup on the short term charts and could push Nifty towards the recent high of 11,794
The recent high of 11,794 would continue to act as strong resistance for the Nifty
NIfty has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames
Nifty is in continuation of an uptrend
L&T is on the verge of breaking out from the symmetrical triangle pattern on the daily charts.
It would be advisable to protect long positions in the Nifty with 10,200 stoploss. Above 10,410, Nifty could move towards 10,600 odd levels.
IGL is in an overall up trend on the daily and weekly charts
Bharti Airtel's move remained resilient during the downtrend which the market witnessed in the current calendar year
Maruti's stock price has risen more than 10 per cent with significant rise in volumes
Nifty has never been able to close above its 5-day EMA since February 19, 2020