Page 38 - Market Outlook

Nifty, Bank Nifty bounce back: Should you sell the rally? Check key levels

As talks of an impending market correction grow louder, here's a quick chart check on the Nifty 50 and key sectoral indices.

HPCL, BPCL, IOC: Will petrol, diesel price cut derail rally in OMCs?

Shares of OMCs have rallied around 50 per cent in the last two months on the back of strong Q2 earnings. Can a fuel price hike derail the rally? Here's what the chart suggests.

Inox Wind, JSW Energy: Power stks soar over 100% in 2 months; time to sell?

Chart suggests that shares related to green and renewable energy may display mixed trend in early 2024, given the sharp rally seen in the last two months.

Nifty PSU Bank, Financial Services: Sell on rise strategy recommended

According to Ravi Nathani, an independent technical analyst, traders can consider to short the Nifty PSU Bank index with a stop at 5,825.

Nifty, MidCap, SmallCap: Should you buy the dip? Here's what charts say

The NSE Nifty50 has strong supports placed around at 20,920 and 20,750 levels. Meanwhile, the broader indices are seen testing support at respective 20-DMAs, show charts.

Angel One, Motilal: What do charts suggest for brokerage shares in 2024?

Angel One, Edelweiss Financial Services, Motilal Oswal Financial Services and IIFL Securities can potentially rally up to 24 per cent in 2024, suggest charts.

Infosys, TCS, Wipro: Do IT stocks have more steam left? What charts say

Unlike the benchmark Nifty 50, the Nifty IT index is still over 9 per cent shy from its summit. Among the frontline stocks, Infosys, TCS and Wipro look fairly placed on the charts.

Market outlook 2024: Over to the interim Budget, general elections

The only concern for the markets, analysts say, is whether the cumulative rate hikes executed across the globe would lead to growth slowdown, or will the global economy recover significantly

Adani Ports, NTPC among 5 Nifty stocks in overbought zone; check key levels

In a bull market, stocks tend to remain in overbought zone for a longer period viz-a-viz a bearish phase. Presently, 18 stocks from the Nifty index were technically trading in overbought zone.

We do not expect DIIs to cash out, says Jitendra Arora of ICICI Pru Life

Jitendra Arora, senior executive vice-president and fund manager for equity at ICICI Prudential Life Insurance expects earnings growth for FY24 & FY25 to be around 24% and 14%, respectively.

T+0 settlement will be a watershed moment for us: Gurpreet Sidana, Religare

Broking industry has moved beyond pricing, additional exposure limits, and tips, says Gurpreet Sidana, chief executive officer at Religare Broking

90% of Nifty 500 stocks trade above 200-DMA; time to be selective: Analysts

The sharp run up in the markets in the last few sessions has made analysts cautious, who now expect the markets to consolidate before resuming their journey north

Bajaj Group tops Rs 10 trn m-cap; Key levels to watch out on major stocks

Among individual shares, Bajaj Finance and Bajaj Finserv look ripe for further upside, while Bajaj Auto may witness some consolidation in the near-term, hint charts.

Chart check: Will Nifty top 25,000-mark before 2024 general elections?

With today's sharp up move, the overall mood has become upbeat and momentum is likely to drive Nifty to newer heights. However, how steep can the rally be? Here's what the chart suggests.

TCS, Tata Motors, Titan, IHCL: Track key levels for Tata Group stocks

Among the Tata Group stocks, shares of Tata Motors could potentially top the Rs 900-mark, while a select few could gain in the range of 15 - 19 per cent from present levels.

Rajesh Exports, Brightcom: Trading strategies for top losers in 2023 so far

Among the Nifty 500 index losing pack so far, Rajesh Exports, Delta Corp and V-Mart Retail can potentially gain up to 15 per cent from current levels, charts show.

Bias for Nifty IT index to turn bullish only above 32,664, indicates chart

According to Ravi Nathani, an independent technical analyst, the Nifty Auto index is likely to exihibit bullish trend as it hovers in uncharted territory.

India Cements, Hindustan Copper can rally up to 17%; here's why

On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities expects Nifty to scale a new all-time high soon.

Nifty Financial Services, Private Bank indices look bullish on charts

According to Ravi Nathani, an independent technical analyst, the Nifty Nifty Financial Services index can rally to 20,210, while the Private Banks index could surge to 23,500.

Trading strategies for Nifty Banks and Financial Services indices

According to Ravi Nathani, an independent technical analyst, traders can consider the buy on dips strategy for Nifty Financial Services and Private Banks indices. However, the PSU Bank looks weak.