The daily chart shows that Nifty is favourably placed, with shorter-term moving averages quoting above longer-term averages. Near support for the index is seen at 25,700 and 25,355 levels.
Data shows that over 50 per cent, or 255 stocks, from the Nifty 500 index had slipped below August 14 closing prices amid the over 3 per cent fall in Nifty 500 index from its recent high
The NSE Nifty 50 index has declined 1.5 per cent from its recent high; technical charts suggest the index is likely to remain in buy on dip mode as long as it manages to close above 24,975 levels.
Market experts believe that the short-term trend is bullish; but flag caution owing the weakening momentum on key technical indicators. Here are the key levels to watch out for on the Nifty.
Till Nifty holds below 24,850 zones weakness could be seen towards 24,650 then 24,500 zones while hurdles can be seen at 24,850 then 25,000 zones.
Ajit Mishra, Senior Vice President - Research at Religare Broking, has recommended buying shares of NTPC, Exide Industries, and Marico today
Vinay Rajani, senior technical and derivative analyst at HDFC Securities, has recommended buying Groww Nifty India Railways PSU ETF, and Edelweiss BSE Capital Markets & Insurance ETF
The 24340 level, where recent swing lows were registered, continues to be the support for the Nifty. On the upside, today's high of 24702 will now act as a short-term resistance level.
Market Technical outlook: Sensex, Nifty may witness some bounce back as benchmark quote in oversold zone; chart shows major hurdles at 81,900 and 25,325 levels for these indices.
Polycab and Jio Financial Services are among the top stocks to buy today, says Chandan Taparia
Mixed Q1 results, the US tariff deadline and significant short bets by FIIs in Nifty futures likely to weigh on the market direction this week; here are the key levels to track.
Stocks to Buy, July 24: Ajit Mishra of Religare Broking suggests buying Ashok Leyland, Bajaj Finserv and Jindal Steel
Delhivery, Tata Chemicals and Indigo are among the top stocks to buy today, says Chandan Taparia
Nikhil Ranka, chief investment officer - equity alternatives at Nuvama Asset Management, says investors could scout for bottom-up mid-caps and small-caps stocks to generate superior returns
Technical chart shows that the Nifty has dipped below its short-term moving averages, and broken below the trend line support.
Analyst at Religare Broking recommends maintaining a cautious stance and focus on stock selection. Tata Power, ITC and are among the top stocks to buy
Nifty broke four sessions of losing streak by rising 113 points to close at 25,195. Ujjivan Small Finance Bank and ITC are the breakout stocks to watch
Analysts at Religare Broking maintain a bullish stance and recommend continuing with a "buy on dips" strategy, with a strong emphasis on stock selection
FMCG sector seems to have bottomed out as many largecap FMCG stocks have turned bullish on the short term charts
NTPC, SRF, Hindustan Petroleum are among the top stocks to buy today, says Chandan Taparia