Page 43 - Market Technicals
Nifty IT faces resistance at 43,200; should you book profits on rise?
The Nifty IT Index is currently displaying signs of nearing a critical resistance level. The immediate resistance level to watch is 43,200
 "Nifty IT faces resistance at 43,200; should you book profits on rise?")
Biocon, PFC, Chambal Fert; top picks by Ajit Mishra of Religare Broking
The pharma sector is showing notable resilience, with Biocon taking the lead. The stock has broken out from a bullish rectangle pattern, accompanied by a strong surge in volumes
 "Biocon, PFC, Chambal Fert; top picks by Ajit Mishra of Religare Broking")
These 5 BSE A-group stocks look weak on charts; can slide up to 17%
NMDC Steel, Network18 and Trident among 5 BSE A-group stocks that can fall up to 17%, suggest technical charts.
 "These 5 BSE A-group stocks look weak on charts; can slide up to 17%")
Stock market outlook: Here's why Sensex, Nifty can fall up to 3% in Sept
Short-term share market forecast: Among sectors, the Nifty PSU Bank, Metal and IT indices could fall up to 7 per cent from present levels; Bullish pivot for Nifty stands at 25,030.
 "Stock market outlook: Here's why Sensex, Nifty can fall up to 3% in Sept")
These are top three stocks recommended by Chandan Taparia of MOFSL
ICICI Prudential has formed an Ascending Triangle with a Breakout near the ATH Price on daily chart indicating buyers are squeezing out the sellers and are ready for a bullish move
 "These are top three stocks recommended by Chandan Taparia of MOFSL")
F&O Cues: Nifty key level 25,150, hint options; 2 stocks with bullish bias
Derivatives market update for Sept 04: FIIs continue to hold long bets in index futures in the 5:2 ratio, while DIIs and retail hold shorts in 3:2 ratio. Three stock in F&O ban on Wednesday.
 "F&O Cues: Nifty key level 25,150, hint options; 2 stocks with bullish bias")
Trading Strategy: Nifty PSU Bank, Private Bank eye breakout; key levels
The Nifty PSU Banks Index is currently range-bound, oscillating between the levels of 7,090 and 6,910. This indicates a phase of consolidation, where the index lacks clear direction
 "Trading Strategy: Nifty PSU Bank, Private Bank eye breakout; key levels")
Stocks to Buy: CEAT, Star Health are top picks of Vinay Rajani of HDFC Sec
CEAT is on the verge of breaking out from inverted head and shoulder pattern on the daily chart. Price rise was accompanied by healthy volumes
 "Stocks to Buy: CEAT, Star Health are top picks of Vinay Rajani of HDFC Sec")
F&O Cues: Options data hint more gains for Nifty; 4 stocks see long buildup
Derivative market update for Monday, Sept 02: FIIs long-short ratio in index futures rose to 2.6:1, implying 5 longs for every 2 shorts. Bandhan Bank, Syngene and Granules India see long buildup.
 "F&O Cues: Options data hint more gains for Nifty; 4 stocks see long buildup")
Weekly Outlook: Nifty eyes 25,550; but this chart pattern can derail rally
Market outlook for Sept 02 - 07, 2024: The Nifty seems favourably placed on the short-term chart; but formation of 'Hanging Man' pattern on the monthly chart may be a reason to worry going ahead.
 "Weekly Outlook: Nifty eyes 25,550; but this chart pattern can derail rally")
Broader market shows weakness after action packed August; trading tips here
August was an action-packed month, initially marked by sharp declines as prices corrected from 25,000 to 24,000 in just three days
 "Broader market shows weakness after action packed August; trading tips here")
Nifty50, MidCap Select index hit key resistance; should you book profits?
The Nifty Midcap Select Index has recently approached its resistance level at 13,200. This level is likely to act as a barrier to further upward movement, causing the index to halt its rally
These stocks rallied up to 13% in run-up to Sept rollovers; what next?
Technical Outlook: RECL, PFC can potentially rally up to 17 per cent from here on; while Birlasoft and LTIMindtree may witness a sharp fall, suggests technical charts.
 "These stocks rallied up to 13% in run-up to Sept rollovers; what next?")
Warning sign: Moving averages of these 2 stocks flag 'Death Cross'
Technical ALERT: A 'Death Cross' pattern is seen on the Ashapura Minechem and DCB Bank charts today, August 29.
 "Warning sign: Moving averages of these 2 stocks flag 'Death Cross'")
F&O Insights: Aug expiry, RIL AGM to guide Nifty; India Cements exit today
Derivative market update for Thursday, August 29: The 10-day Nifty rally is under threat amid weak global cues; Monthly F&O expiry and RIL AGM may add to the market volatility.
 "F&O Insights: Aug expiry, RIL AGM to guide Nifty; India Cements exit today")
F&O Insights: FIIs up Nifty, Bank Nifty bullish bets; futures premium dip
Derivative market update for Wednesday, August 28: The Nifty September futures premium dipped from Rs 155 to Rs 116 yesterday; while, Bank Nifty futures premium declined to Rs 257 from Rs 328.
SBI Card, Usha Martin: These 3 stocks crossed 200-DMA; what to expect next?
SBI Card stock is seen trading above its 200-DMA after one month. Technical chart shows, the stock can potentially rally up 15% from present level; read details here
 "SBI Card, Usha Martin: These 3 stocks crossed 200-DMA; what to expect next?")
Weekly Outlook: Nifty, Sensex near key hurdles; Bank Nifty can rally 5%
Market outlook for the week Aug 26 - 30: The Nifty needs to clear resistance at 24,971, and Sensex at 81,750 for further gains. Here are the key support levels to watch out the NSE, BSE benchmarks.
 "Weekly Outlook: Nifty, Sensex near key hurdles; Bank Nifty can rally 5%")
Nandish Shah of HDFC Securities recommends Bull Spread on Bank Nifty
Short covering is seen in the Bank Nifty Futures, where we have seen 3 per cent fall in the open interest
Nifty Energy Index waits for decisive breakout; check what analysts predict
In such a scenario, traders might look to enter long positions, anticipating further upward momentum as the index pushes through these resistance levels