According to Ravi Nathani, an independent technical analysts, the Nifty Metal Index is exhibiting a range-bound trade, whereas the FMCG index presents a 'Sell on rise' opportunity.
According to Ravi Nathani, an independent technical analysts, the Nifty Bank Index is expected to face significant resistance around the 42,700 level in the near term.
In case the Nifty faces resistance at 17,858, Ravi Nathani recommends adopting buy on dips strategy with support around 17,610 and lower levels.
On April 11, 2023, Ashish Rameshchandra Kacholia bought 4 lakh equity shares, which represented 1.98 per cent stake of Venus Pipes at Rs 750 per share via block deal
The stock of Bank of Baroda is on the verge of breaking out from the symmetrical triangle
Based on the technical analysis of the Nifty Auto index using near-term charts, it is anticipated that the index may continue its upward trend in the near to short term, said the technical analyst
Analysts suggest that the overall market valuation has become attractive after the recent correction and investors can start buying large-cap stocks from a medium-to-long term perspective.
Technical analyst Ravi Nathani expects the NSE benchmark index to consolidate in 17,150 - 17,850 range
According to the technical analyst, the Nifty Auto Index is expected to remain range-bound in the near term, with a potential breakout in either direction likely to trigger a directional bias
The technical analyst recommends to employ 'sell-on-rise' strategy for Nifty Private Bank, Nifty Consumption indices in the near-term
The technical analyst recommends to employ 'buy-on-dips' trading strategy for Nifty, given positive outlook for the index in the short term
Analysts, however, remain cautious over sustenance of this recent rebound as markets will face a slew of data driven activity in the coming days
Over the past few months, rising interest rates amid surging inflation has dented market sentiment across the globe
The technical analyst recommends traders to employ a "sell on the rise" strategy when trading Nifty Commodities, given that its short-term pattern appears to be trading within a range of 5,600-5,400
The Nifty Pvt Bank index can rally to 20,425 and 20,775 in the short-term.
According to the technical analyst, traders should adopt a buy-on-dips approach for the Nifty Auto index, with a minimum target of 12,236
So far in 2023, benchmark indices the S&P BSE Sensex and Nifty50 have tumbled up to 6.4 per cent, eroding India's m-cap by nearly $300 billion
Hindustan Aeronautics shares may dip up to 20 per cent upon breaking key support.
According to the technical analyst, the best trading strategy for traders would be to buy on dips with a strict stop loss of 16,800 on a closing basis for Nifty
Will remain slightly Overweight India in the Asia Pacific ex-Japan relative-return portfolio, says Christopher Wood, global head of equity strategy at Jefferies in his GREED & Fear note to investors.