Page 61 - Market Technicals
Nifty Auto eyes fresh selling below this level; Buy Nifty IT near support
As per Ravi Nathani, traders should wait for the correction to complete and start buying Nifty IT index at or near the support level of 29,800
 "Nifty Auto eyes fresh selling below this level; Buy Nifty IT near support")
Short rollover seen in Nifty Futures; Check Bear Spread strategy for index
The short-term trend of the Nifty index is weak as it is placed below its 5,11 and 20-day EMA
 "Short rollover seen in Nifty Futures; Check Bear Spread strategy for index")
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")
Buy Nifty PSU Bank at this support; Nifty FMCG strategy eyed in this range
As per Ravi Nathani, adopting a buy-low, sell-high strategy for Nifty FMCG within the established range is the most prudent course of action
 "Buy Nifty PSU Bank at this support; Nifty FMCG strategy eyed in this range")
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?")
Nifty Financial, Nifty Private Bank: Trading strategy for near-term decline
As per Ravi Nathani, the Nifty Private Bank index is poised to encounter a stronghold of support at 22,200, according to chart analysis.
 "Nifty Financial, Nifty Private Bank: Trading strategy for near-term decline")
Nifty50 index to consolidate in near-term; Buy Bank Nifty on dips: Nathani
Buy the Bank Nifty index either at the current market price of 43,600 or seize the opportunity below this threshold, says Ravi Nathani
 "Nifty50 index to consolidate in near-term; Buy Bank Nifty on dips: Nathani")
F&O Strategy: HDFC Securities recommends Bear Spread on Bank Nifty
Buy Bank Nifty 43800 Put option and simultaneously Sell 43400 Put of the 26-October expiry, recommends Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
 "F&O Strategy: HDFC Securities recommends Bear Spread on Bank Nifty")
Nifty IT, Metal indices: Adopt 'Sell on Rise' strategy; here's why
According to Ravi Nathani, an independent technical analyst, one can consider to sell the Nifty IT and Metal indices near resistance levels.
Buy Rites, Gujarat Alkalies for up to 16% rally, recommends HDFC Securities
On the broader market outlook, Vinay Rajani the technical & derivative analyst of HDFC Securities suggests to keep a stop at 19,635 on all long positions in the Nifty.
 "Buy Rites, Gujarat Alkalies for up to 16% rally, recommends HDFC Securities")
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")
Nifty Financial Services: Look to buy the dips as index consolidates
Whereas, one needs to be patience and await for a clear breakout on the Nifty Private Bank Index, suggests Ravi Nathani, an independent technical analyst.
 "Nifty Financial Services: Look to buy the dips as index consolidates")
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")
Nifty50 index confined within a 400-point trading range, indicates chart
Similarly, the Bank Nifty is seen consolidating in between the 44,764 - 43,781 points range, says Ravi Nathani, an independent technical analyst.
 "Nifty50 index confined within a 400-point trading range, indicates chart")
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.
F&O Trading: Adopt Bull Spread strategy on GAIL for the August expiry
Buy GAIL 130 Call option and simultaneously Sell 135 Call of the 26-October expiry, recommends Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
Nifty Midcap 50 index calls for 'wait and watch' strategy
According to Ravi Nathani, an independent technical analyst, Nifty Midcap 50 seenms trapped in the 11,800 - 11,275 range for now.
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.
 "Nifty Pharma, Metal: Key levels to watch out on these range-bound indices")
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.
Nifty Financial, Private Bank offer buying opportunities; check levels
According to Ravi Nathani, an independent technical analyst, Nifty Financial index can be bought with a stop at 19,570.
 "Nifty Financial, Private Bank offer buying opportunities; check levels")