Short term trend of the Nifty remains bullish as it is placed above its 5, 11 and 20 day EMA.
The Nifty Pharma Index remains range-bound, trading between 23,450 and 22,925. A close above or below these levels would act as a directional trigger, leading to either a bullish or bearish breakout.
NTPC is displaying a strong uptrend, characterised by a steady pattern of higher highs and higher lows.
The Nifty Auto Index appears overbought on the near-term charts, indicating a potential pullback in the coming sessions, likely after the monthly expiry.
The Nifty 200 index is valued at about 24 times its 12-month forward earnings estimates, versus last decade's mean of about 19 times
Gold hit a fresh record high of $2664 and closed with a hefty gain of 1.09 per cent at $2657.
On Tuesday, silver surged sharply higher on an unexpectedly huge stimulus package announced by China's Central Bank and the Chinese authorities.
Nifty has formed a spinning top like pattern on Sept 24 after remaining in a 125 points range. Nifty could now face resistance from 26,250 while 25,611-25,791 band could offer support
Tata Power is trading near its all-time high price and given a range breakout on the weekly chart. The ADX indicator has turned up which supports the bullish trend.
The Nifty Bank Index has entered the overbought zone according to technical indicators, signalling a potential near-term correction.
The Nifty Financial Services Index has recently approached its resistance level of 25,000, which is a crucial round figure for short-term traders.
Marico has showcased a strong resurgence from the pivotal support of the previous breakout on the daily time frame chart and has soared to record-high levels.
The Nifty 50 Index remains bullish but overbought, indicating a possible near-term correction or profit booking.
Recently, Adani Power broke through a key bearish trendline on the daily chart, suggesting a potential reversal in momentum from its previous downtrend.
Spot silver was extremely volatile in the wake of the US Fed cutting rates by 50-bps at its FOMC meeting concluded on September 18.
US yields and the US Dollar Index surged on no recession talks, which sent the yellow metal to $2547 in today's Asian session.
The Nifty Pharma Index is currently trading in a defined range between 23,700 and 22,700. This suggests that the market is experiencing indecision, with neither buyers nor sellers dominating.
With Israel looking to carry out its offensive against Hezbollah to the next level, traders will monitor the evolving situation in Middle East closely for possibility of disruptions to oil supplies.
The Nifty Energy Index is showing a bearish trend in the near term, as indicated by multiple technical indicators such as RSI, MACD, and Stochastic, which all suggest further downside movement.
Stocks to buy today: The stock of Hero MotoCorp has given a range breakout on daily scale with noticeable volumes