Page 42 - Market Outlook
Axis Bank, Bajaj Fin can dip up to 7%; GIC Hsg likely to gain, show charts
Meanwhile, SBI looks range-bound on charts, while shares of SBI Cards & Payments can pullback up to 7 per cent from present levels.
 "Axis Bank, Bajaj Fin can dip up to 7%; GIC Hsg likely to gain, show charts")
Samvat 2080: Volatility ahead; Will Sensex top 72K or test 58K first?
Given the recent consolidation in the market, select key indicators are flashing signs of caution, hence the benchmark indices are likely to be volatile going ahead.
 "Samvat 2080: Volatility ahead; Will Sensex top 72K or test 58K first?")
Nifty FMCG index expected to turn bullish on clearing the hurdle at 52,600
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index faces a formidable hurdle between 52,380 - 52,600; a breakout above this range can trigger a fresh wave of buying.
 "Nifty FMCG index expected to turn bullish on clearing the hurdle at 52,600")
Nifty Pvt Bank, Nifty Fin Services: Here's why you should look to buy
According to Ravi Nathani, an independent technical analyst, Nifty Private Bank index can be bought at existing levels, while one should prefer to buy Nifty Financial Services Index on dips.
 "Nifty Pvt Bank, Nifty Fin Services: Here's why you should look to buy")
Upcoming state elections not much of a worry for markets: Analysts
This, they believe, is because the electorate votes differently in state and general elections. On their part, the markets, they said, are only looking for a stable regime and policy continuity.
 "Upcoming state elections not much of a worry for markets: Analysts")
DLF, Oberoi Realty zoom up to 70% so far in 2023; will the rally last?
Charts suggest that the bias for the realty stocks is likely to remain favourable as long as they hold these key support levels.
 "DLF, Oberoi Realty zoom up to 70% so far in 2023; will the rally last?")
Nifty Pharma index needs to breakout above 14,900 for a bullish move
According to Ravi Nathani, an independent technical analyst, the select momentum oscillators on the Nifty IT index have reached oversold zone, thus suggesting a potential rebound in the near term.
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.
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.
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.
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.