The Nifty Index is currently trading at 23,465.60. On near-term charts, the index is positioned in the oversold zone, suggesting that selling pressure will likely emerge on any rise
The NIFTY 50 Index is currently trading at 23,290.15. Although the overall trend remains bullish, recent volatility has disrupted the near-term pattern, evidenced by large candlestick formations
Stock Market LIVE on June 04: As of 11:30 AM, Narendra Modi-led BJP was seen leading in 237 seats, and Congress was seen with 98 seats, as per Election Commission of India
The Nifty 50 Index is currently trading at 22,952.00 and has rallied significantly in the near term, bringing it close to a stiff resistance zone around 23,050
That said, the reality so far Wood believes, a repeat of the shock BJP defeat in 2004, remains unlikely in the extreme.
Here's why the stock market rallied on Thursday, May 23: PSU bank stocks cheered RBI's dividend move; Optimism over election outcome coupled with ease in bond yields lifted NSE Nifty to a new high.
In the past six trading days, the index has outperformed by surging 5.4 per cent, as compared to 2.4 per cent rise in the Nifty 50.
By 2035, India's market-cap can touch $18-20 trillion as compared to around $4 trillion right now, Vikas Khemani said in this interview.
According to Ravi Nathani, an independent technical analyst, the 22,527 level on the upside and 22,170 on the downside are the key levels to watch out for on the Nifty 50 index.
This particular technical indicator on the weekly charts suggests that the Nifty PSE, CPSE and PSU Bank indices could consolidate or dip in the near-term
Analysts raised 2023-24 (FY24) earnings estimates for 49 per cent of 162 companies
The NSE Nifty50 has strong supports placed around at 20,920 and 20,750 levels. Meanwhile, the broader indices are seen testing support at respective 20-DMAs, show charts.
A prudent trading strategy in the Nifty Realty index would involve booking profits, and adopting a cash position
The NSE Nifty may face some resistance around 20,130; above which the index can potentially hit a new all-time high soon.
However, the recent correction in stock prices may not be the end of the downward trend for mid and small-cap stocks,
Thus far in calendar year 2023 (CY23) the Nifty Midcap 100 index has surged 29 per cent, as compared to 11 per cent gain in the Nifty 50
According to Ravi Nathani, an independent technical analyst, while the Nifty Midcap index has strong resistance around 10,125 level.
ITC and Tata Motors have zoomed 33 per cent each since December 1, and have led the rally in the 30-pack index
Zydus Lifesciences, in particular, has been scaling 52-week highs with momentum staying highly elevated. Also, Aurobindo Pharma shares have seen a steeper rise, with aggressive chart structures.
Both shed 0.6% but end in green for second straight week; Broader markets play catch-up