Sensex today: Analysts at SBI Securities said that the gradual decline in crude oil prices over the last four trading sessions has provided some respite to Asian equities.
Stocks to buy today: EMIL and Ingersoll Rand among top stock picks by Vinay Rajani of HDFC Securities.
Till Nifty holds below 23,700, weakness could extend towards 23,500, then 23,400 levels, while on the upside, hurdles can be seen at 23,800, then 23,900 zones.
The emerging technical structure highlights the need to exercise caution and warrants a clear strategy to avoid venturing into aggressive long trades.
Stocks to buy today: Vinay Rajani, CMT, senior technical analyst at HDFC Securities, recommends buying GRSE and Tata Capital.
Ajit Mishra of Religare Broking has recommended buying the shares of Coal India, Hindustan Unilever, and Lupin today
Nifty outlook for Feb 12: Index consolidates near 25,950 amid mixed sectoral trends. Ajit Mishra recommends Glenmark Pharma, Nippon Life and TVS Motor as stocks to buy today.
Ajit Mishra of Religare Broking has recommended buying the shares of Dalmia Bharat, Jindal Steel, and LIC Housing Finance today
With a likely trading Nifty range of 23,700-24,700 in the coming week, a Short Strangle strategy could be an effective way to capitalise on expected consolidation
Earlier today, Sanjay Malhotra-led RBI's Monetary Policy Committee (MPC) announced a reduction in the repo rate by 25 basis points to 6 per cent
Nifty Today: An overall improvement in market breadth over the last week suggests limited downside capped within 22900
Nifty Today: The immediate Support and Resistance levels for Nifty are: 22,900 and 23,700, respectively, as per Nifty 50 chart
Nifty Today: The index is expected to consolidate in a range between 23,200 on the downside and 24,200 on the upside. A breakout beyond this range will trigger a decisive move
Nifty Today, Jan 10: Short build up is seen in the NIFTY futures, where we have seen 8 per cent rise in the open interest
The bulls are back, as recent sessions have established a base around the key support of the 50-Day EMA, and last Friday's strong momentum suggests that prices are forming a structural bottom
Typically, a high India VIX indicates that the market is expecting increased volatility, whereas a low India VIX suggests anticipation of low volatility
According to Ravi Nathani, an independent technical analyst, a breach of 21,500 could trigger a consolidation phase with a negative bias, with Nifty seeking support at 21,125, 20,700, and 20,350.
Meanwhile, the market's attention in the next few weeks will shift to the outcome of the Gujarat assembly election and the monetary policy action of the Reserve Bank of India (RBI)
Above 15,900, Nifty could move towards 16,300 target, while any level below 15,673 could drag Nifty towards 15,500 support
For Nifty IT, the immediate support comes in at 16,400 levels on a closing basis and the rally should move towards 17,500 and 17,700 levels.