Page 55 - Market Technicals
Tata Motors demerger: Stock can potentially rally another 27%; hints chart
The stock Tata Motors has so far rallied 32 per cent in 2024, and a solid 145 per cent in FY24. Charts suggest that the bias is likely to remain bullish as long as the stock trades above Rs 975.
 "Tata Motors demerger: Stock can potentially rally another 27%; hints chart")
Nifty Bank, Nifty Private Bank rangebound on charts: Check key levels
A breach above 47600 would suggest a potential upward movement, with the next resistance levels expected at 47786, 48280, and 48400 in Nifty Bank, says Ravi Nathani
 "Nifty Bank, Nifty Private Bank rangebound on charts: Check key levels")
Nifty50 outlook: Await breakout above 22,464 to initiate bullish positions
Investors are encouraged to focus on profit booking opportunities, considering potential re-entry points at the specified support levels, says Ravi Nathani
 "Nifty50 outlook: Await breakout above 22,464 to initiate bullish positions")
Nifty Auto index seen in downtrend, Energy range-bound; suggest charts
According to Ravi Nathani, an independent technical analyst, the Nifty Auto index can dip to 20,200 and 19,850 levels in the near term.
 "Nifty Auto index seen in downtrend, Energy range-bound; suggest charts")
Zee, Paytm top Nifty 500 losers so far in 2024; will the fall continue?
As many as 10 stocks within the Nifty 500 space have declined over 20 per cent so far in 2024. These are the key levels to watch out, suggest charts.
Will Voda Idea hold this weekly support level? Check key levels here
With Wednesday's 9 per cent fall, Vodafone Idea has declined over 20 per cent in the last three trading sessions from its recent high; stock is now trading close to its weekly support level.
 "Will Voda Idea hold this weekly support level? Check key levels here")
JK Lakshmi, Motherson Sumi can rally up to 19%, recommends HDFC Securities
On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty is seen consolidating in the 22,075 - 22,297 trading band.
 "JK Lakshmi, Motherson Sumi can rally up to 19%, recommends HDFC Securities")
Nifty Private Bank, IT: Here's how to trade these two range-bound indices
The Nifty Private Bank Index in seen trading in a range of 23,165 - 23,690, and the IT index in the 37,200 - 38,56 range, says Ravi Nathani, an independent technical analyst.
 "Nifty Private Bank, IT: Here's how to trade these two range-bound indices")
Nifty PSU Bank, Financial Services Indices may exert downward pressure
According to Ravi Nathani, an independent technical analyst, Nifty Financial Servies Index can be short with a stop at 20,800, while selling pivot for the PSU Bank index stands at 7,136.
 "Nifty PSU Bank, Financial Services Indices may exert downward pressure")
Nifty, Bank Nifty in indecisive mode; Watch out for these key levels
Nifty likely to see a directional move on breakout from the 22,100 - 22,325 trading range, says Ravi Nathani, an independent technical analyst.
 "Nifty, Bank Nifty in indecisive mode; Watch out for these key levels")
F&O strategy: Bull spread recommended on BEL for February expiry
Nandish Shah of HDFC Securities recommends to Buy BEL 195 CALL and simultaneously Sell 200 CALL of the February expiry.
 "F&O strategy: Bull spread recommended on BEL for February expiry")
Buy Nifty FMCG on dips; Metal to gain strength above 8,100, suggest charts
According to Ravi Nathani, an independent technical analyst, technical indicators such as RSI and MACD are signaling potential for a technical pullback in the near term on the Nifty FMCG index.
 "Buy Nifty FMCG on dips; Metal to gain strength above 8,100, suggest charts")
Nifty Energy: Look for opportunities to sell on rise; Pharma seems sideways
On the upside, the Nifty Energy index is likely to face resistance around 39,650, says Ravi Nathani, an independent technical analyst.
 "Nifty Energy: Look for opportunities to sell on rise; Pharma seems sideways")
HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs
Among these five, HDFC Bank, ITC and UPL can potentially rally up to 10 per cent; Whereas, Hindustan Unilever and Asian Paints can crack another 25 per cent, suggest charts.
 "HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs")
Nifty IT: 37,780 is the make or break level; Bias for Auto turns negative
According to Ravi Nathani, an independent technical analyst, breach of 37,780 on the Nifty IT could trigger a fall to 37,400 and 37,125.
 "Nifty IT: 37,780 is the make or break level; Bias for Auto turns negative")
Tech picks: JK Lakshmi, Castrol can rally up to 20%, says HDFC Securities
On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty has broken out from a consolidation phase and can rally towards 22,600-22,700.
Bias for Nifty PSU Bank turns negative, can dip up to 5%
On the upside, the PSU Bank index is likely to face resistance around 7,280 to 7,350, says Ravi Nathani, an independent technical analyst.
 "Bias for Nifty PSU Bank turns negative, can dip up to 5%")
Nifty, Bank Nifty can fall up to 7%, warn charts; Key hurdles to watch out
According to Ravi Nathani, an independent technical analyst, the trading strategy for Nifty and the Bank Nifty is 'sell on rise'.
 "Nifty, Bank Nifty can fall up to 7%, warn charts; Key hurdles to watch out")
F&O strategy: Bull spread on McDowell for the February series
Nandish Shah of HDFC Securities recommends to Buy McDowell 1150 CALL and simultaneously Sell 1200 CALL of the February expiry.
 "F&O strategy: Bull spread on McDowell for the February series")
Nifty Energy to face stiff resistance at 40,000; Pharma seems range-bound
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is trading in overbought zone, hence some reversal can be anticipated.