Page 45 - Market Outlook
Nifty Energy, Commodities indices may languish in near-term, show charts
According to the technical analyst, traders must adopt 'sell-on-rise' strategy for both Nifty Energy, and Commodities indices
 "Nifty Energy, Commodities indices may languish in near-term, show charts")
Nifty Pharma index looks weak on charts; support at 11,700-11,800 levels
Sell the Nifty Pharma index and its constituents and book profits, as the index has been underperforming in recent days
 "Nifty Pharma index looks weak on charts; support at 11,700-11,800 levels")
Nifty FMCG, Auto indices likely to underperform in near-term, show charts
The Nifty Auto index is expected to underperform in the near future, and the current rally provides an opportune moment to sell the index and its constituents
 "Nifty FMCG, Auto indices likely to underperform in near-term, show charts")
Nifty Pvt bank index is consolidating; track these levels for next big move
If the index manages to surpass 22,480 and 22,650, it could indicate a bullish breakout.
 "Nifty Pvt bank index is consolidating; track these levels for next big move")
Axis Bank, L&T, Thermax: Chris Wood rejigs India equity portfolio
Chris Wood has added Axis Bank and increased holding in Larsen & Toubro in India long-only portfolio Asia ex-Japan, excludes ICICI Lombard General Insurance.
 "Axis Bank, L&T, Thermax: Chris Wood rejigs India equity portfolio")
Sell Nifty Energy, Commodities indices on rise, suggest charts
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index can dip towards the 23,000 level, while Commodities index could test 5,605 on the downside.
'It's difficult not to be positive on Indian equities'
With Nifty50 almost consolidating at around 18,000 levels, valuations have become reasonable and offer a good entry point for investors
 "'It's difficult not to be positive on Indian equities'")
Has the correlation between the Nifty IT index and the NASDAQ ended?
The gain in NASDAQ thus far in CY23 was largely fueled by Google, Apple, Amazon, Netflix and Meta Platforms - also known as the FAANG stocks.
 "Has the correlation between the Nifty IT index and the NASDAQ ended?")
Nifty Pharma likely to remain bearish in near-term, can dip below 12,000
Meanwhile, charts suggest that Nifty Realty and Media indices are experiencing a phase of consolidation says Ravi Nathani, an independent technical analyst.
 "Nifty Pharma likely to remain bearish in near-term, can dip below 12,000")
Care Ratings, Equitas SFB form bullish patterns on charts; time to buy?
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the key support for Nifty stands at 18,200.
 "Care Ratings, Equitas SFB form bullish patterns on charts; time to buy?")
Trading strategy for Nifty Metal, FMCG indices in the short-term
According to Ravi Nathani, an independent technical analyst, in case the Nifty Metal index closes below 5,625 it could weaken further.
 "Trading strategy for Nifty Metal, FMCG indices in the short-term")
Sell Nifty Private Bank, Financial Service indices on rise, suggest charts
According to Ravi Nathani, an independent technical analyst, the charts are indicating a likely range-bound trade on the Nifty PSU Bank index.
HDFC Securities recommends Bull Spread strategy on ACC for May series
The derivative analyst from HDFC Securities recommends to Buy ACC 1,800 CALL at Rs 45.5 & simultaneously sell 1860 CALL at Rs 22.5
 "HDFC Securities recommends Bull Spread strategy on ACC for May series")
Charts show Nifty Commodities in overbought zone; sell-on-rise strategy apt
The recent bullish run has propelled Nifty Commodities into an overbought zone, implying optimal trading strategy to capitalise on any upward price movements by selling, said technical analyst
 "Charts show Nifty Commodities in overbought zone; sell-on-rise strategy apt")
Key Apple supplier Foxconn reports loss of 56% in Q1, outlook flat
In the first quarter of 2023, revenue totaled 1.4624 trillion Taiwanese dollars, up 4 per cent year-on-year
 "Key Apple supplier Foxconn reports loss of 56% in Q1, outlook flat")
Markets in consolidation phase; prudent to book profit now: Analysts
Thus far in fiscal 2023-24 (FY24), the S&P BSE Sensex has moved up around 5% to nearly 62,000 levels. The Nifty50 index, on the other hand, has gained 5.5% to 18,300 levels, data shows
 "Markets in consolidation phase; prudent to book profit now: Analysts")
Charts exhibit bearish trend for Nifty Realty, Pharma indices in near-term
By booking profits and staying away from the market, investors can avoid potential losses and capitalise on future price fluctuations that may occur, said the technical analyst
India is back with a bang on FIIs mind: Sumit Jain, ASK Investment Managers
Nifty 12-month forward PE is around 23 per cent below peak. Indian equities should find support from robust earnings outlook owing to strength in the domestic economy.
 "India is back with a bang on FIIs mind: Sumit Jain, ASK Investment Managers")
HDFC Securities recommends to buy Mastek, CCL Products; here's why
According to the technical analyst, Mastek is placed above its 20, 50 and 100 days EMA, while CCL Products' indicators and oscillators have turned bullish on daily and weekly charts
Charts hint near-term correction for Nifty FMCG, sell-on-rise approach apt
It is recommended that traders adopt a cautious approach while trading in Nifty FMCG index, given the overextended market conditions and the likelihood of a correction in the near term, said analyst