Technical indicators such as the RSI, MACD, and Stochastic are showing signs of potential correction and underperformance for the Nifty Pharma index
The Nifty FMCG Index is showing a bullish trend on the charts, with the potential for a fresh bullish breakout if it closes above 55,500
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma index is quoting close to its ley support at 18,325; hence one may consider a buy on dip strategy here.
The Nifty Metal index is now positioned very close to its resistance levels, which are located at 8,110 and 8,250
From defensives, Nifty Pharma index has led gains so far in calendar year 2024 with a surge of 11 per cent, followed by Nifty IT, which is up 4 per cent while Nifty FMCG has shed 6 per cent
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.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG exudes a bullish short-term trend; while the Metal and Realty indices suggests a sell strategy.
The Nifty FMCG Index reveals a near-term downtrend on charts, with a support level expected around 53,725
A prospective downturn is anticipated, contingent upon the Nifty FMCG index breaching the crucial threshold of 55150, as per Ravi Nathani
Traders are advised to keep a watchful eye on the 55,900-mark on the Nifty FMCG index
Investors may consider booking profits either at the CMP or during any subsequent rise in prices in Nifty Realty, as per Ravi Nathani
The anticipated profit booking in Nifty FMCG is expected to continue until the index reaches support levels at 53,681 and 53,100, says Ravi Nathani
Traders are advised to exercise patience and wait for opportune moments to capitalize on potential price dips in Nifty FMCG and its stocks, says Ravi Nathani
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index looks bullish on chart and presents a buying opportunity on dips for potential upward movement.
A decisive close above 16,880 is essential to trigger a renewed wave of bullish sentiment in both Nifty Auto and its constituents, said Ravi Nathani
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index faces a formidable hurdle between 52,380 - 52,600; a breakout above this range can trigger a fresh wave of buying.
A closing above 51,480 for Nifty FMCG index would indicate a potential surge in buying activities, encouraging traders to consider selling near this mark
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
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.
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index stands resilient, and promises potential gains in this nuanced market landscape.