Page 41 - Market Outlook
Nifty Metal index looks weak on charts; Oil & Gas seems range-bound
Ravi Nathani, an independent technical analyst, recommends initiating short positions on rise on the Nifty metal index with a stop at 6,550.
 "Nifty Metal index looks weak on charts; Oil & Gas seems range-bound")
Nifty Auto, FMCG indices trading range-bound; check breakout levels here
A closing above 51,480 for Nifty FMCG index would indicate a potential surge in buying activities, encouraging traders to consider selling near this mark
 "Nifty Auto, FMCG indices trading range-bound; check breakout levels here")
India sitting on tsunami of equities; Nifty to double in 5 years: Raamdeo
BS BFSI Insight Summit 2023: India is an extremely well explored market. What concerns me is buying a stock at a reasonable valuation, he said
 "India sitting on tsunami of equities; Nifty to double in 5 years: Raamdeo")
Max Fin, JSP, Oberoi: Strategy for stocks with highest F&O rollover to Nov
Dr.Reddy's, Apollo Tyres and Jindal Steel are among the five stocks which have seen rollovers of up to 88 per cent to the November series.
 "Max Fin, JSP, Oberoi: Strategy for stocks with highest F&O rollover to Nov")
Sensex, Nifty in a downward spiral. Are the markets in an oversold zone?
The S&P BSE Sensex has lost nearly 3 per cent thus far in October, and down almost 6 per cent from its 52-week high level of 67927.23 hit on September 15, 2023.
 "Sensex, Nifty in a downward spiral. Are the markets in an oversold zone?")
Bajaj Auto, Wipro, Bandhan Bk: Trading strategies in stocks post Q2 results
Charts suggest that Bajaj Auto can potentially rally up to 7 per cent from present levels, while Bajaj Finance, Bandhan Bank and Wipro can tumble up to 21 per cent.
 "Bajaj Auto, Wipro, Bandhan Bk: Trading strategies in stocks post Q2 results")
Trading strategies for Nifty Auto, Pharma indices; check key levels here
The Nifty Auto index is exhibiting a bullish trajectory, and can be bought with a stop at 16,436, sugges3ts Ravi Nathani, an independent technical analyst.
 "Trading strategies for Nifty Auto, Pharma indices; check key levels here")
Nifty FMCG likely to exhibit bullish bias; Metal needs to clear 6964 hurdle
The Nifty FMCG can potentially rally nearly 2 per cent from current levels, to near about 53,625, says Ravi Nathani, an independent technical analyst.
 "Nifty FMCG likely to exhibit bullish bias; Metal needs to clear 6964 hurdle")
RIL, ONGC: Keep stocks of these oil explorers on radar as crude prices soar
Charts suggest that shares of oil exploration companies can rally over 16 per cent from present levels.
 "RIL, ONGC: Keep stocks of these oil explorers on radar as crude prices soar")
Q2 impact: Infosys, TCS can fall up to 9%; HCLTech may rise 5%, show charts
IT majors - TCS, Infosys and HCL Technologies flagged concerns of slower growth going ahead after announcing the Q2 results in the last two days.
 "Q2 impact: Infosys, TCS can fall up to 9%; HCLTech may rise 5%, show charts")
Nifty Pharma, Metal: Key levels to watch out on these range-bound indices
According to Ravi Nathani, an independent technical analyst, Nifty Pharma index is oscillating between 15,450 and 15,000; whereas, the Metal index is moving in a range of 6,900 to 6,600.
 "Nifty Pharma, Metal: Key levels to watch out on these range-bound indices")
Support for Nifty shifts higher to 19,480; resistance seen at 19,766
Among individual stocks, Vinay Rajani, technical & derivative analyst of HDFC Securities, recommends a Buy on Gujarat Alkalies and MSTC.
 "Support for Nifty shifts higher to 19,480; resistance seen at 19,766")
Nifty FMCG, Auto: Charts indicate divergent trend for these two indices
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index stands resilient, and promises potential gains in this nuanced market landscape.
Paytm, Sun Tv, Prestige: 5 stocks where the momentum has turned favourable
Among the key momentum oscillators, the 14-day RSI, MACD and Stochastic Slow on selective basis have turned positive for these five stocks.
 "Paytm, Sun Tv, Prestige: 5 stocks where the momentum has turned favourable")
Markets in a correction mode: It's your portfolio. Make it large!
The run-up in the markets in these last few months, analysts at HSBC said, has made investors nervous about the markets amid multiple headwinds
 "Markets in a correction mode: It's your portfolio. Make it large!")
Trading strategies for stocks that doubled your money in 2023
1 out of every 25 shares from the Nifty 500 index has more-than-doubled investors wealth in 2023 so far, with Apar Industries, Mazagon Dock and JBM Auto as the top movers.
 "Trading strategies for stocks that doubled your money in 2023")
HCLT, Infosys: Morgan Stanley ups target price of IT stocks by up to 29%
Among individual stocks, Morgan Stanley has maintained their overweight rating on HCLT, LTIMindtree and Infosys within the large-caps.
 "HCLT, Infosys: Morgan Stanley ups target price of IT stocks by up to 29%")
Nifty FMCG, PSU Bank indices: Near-term trading strategies
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index seems range-bound, while one can adopt a 'sell on rise' strategy for the PSU Bank index.
 "Nifty FMCG, PSU Bank indices: Near-term trading strategies")
Nifty Pvt Bank index to remain bullish as long as it holds 22,770
According to Ravi Nathani, an independent technical analyst, the interim support levels for the private bank index are placed at 23,420, 23,120, 22,900.
 "Nifty Pvt Bank index to remain bullish as long as it holds 22,770")
Sensex, Nifty in correction mode; Watch out for these key levels
On Wednesday in intra-day deals, the S&P BSE Sensex was down 660 points at 66,935, while the Nifty50 had shed a per cent or 190 points to 19,944.