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Nifty View
From 7th April’s Low of 21,743, Nifty has risen more than 1600 points in the span of 5 trading sessions. Volatility Index, India VIX, was down by more than 20 per cent on April 15, 2025. Nifty has reclaimed its level above its 20,50- and 100-days EMA, which is an encouraging sign for bulls. Next resistance for Nifty is now seen at 23,869, which happens to be the previous swing high. On the downside, the band of 22,900-23,000 could offer support for the Nifty.
Stock picks
Buy Patanjali Foods (₹ 1,937) | Target ₹ 2,145| Stop-loss ₹ 1,770
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Stock has broken out from the symmetrical triangle on the weekly chart. Stock price is hovering near its 52 week and all time highs. Stock is placed above all important moving averages. Weekly RSI has reached above 50, indicating sustainable up trend. Weekly MACD is placed above equilibrium and signal line. Stock price has started forming higher tops and higher bottoms on the daily chart.
Also Read: Stock Market Live Updates
Buy Lemon Tree Hotels (₹ 142.50): | Target ₹ 154| Stop-loss ₹ 136.50
Stock has broken out from the downward sloping trend line on the weekly chart. Stock price has broken out from the consolidation on weekly charts. Stock is placed above all important moving averages. Daily RSI has reached above 50, indicating a sustainable up trend. Daily MACD is placed above equilibrium and signal line.
(Disclaimer: Vinay Rajani is a senior technical and derivative analyst at HDFC Securities. Views expressed are his own.)
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