Stocks to buy today: The stock of Hero MotoCorp has given a range breakout on daily scale with noticeable volumes
The Nifty Private Bank Index is currently experiencing a strong bullish trend, with significant gains recorded over the past fortnight
Stock market trading strategy: The NIFTY PSU Bank Index is currently showing a downtrend in the near term, indicating a temporary pullback within its overall long-term bullish trend
The NIFTY 50 index is exhibiting a bullish trend on the charts, making it an attractive option for traders seeking to capitalise on the ongoing upward momentum.
Recently, IRCTC's stock price has been consolidating around its 200-day Exponential Moving Average (DEMA), which is often seen as a critical support level.
For over 8 months, CEAT has faced resistance around the 2,900 level. However, prices have now broken this range, confirming a strong 'Inverse Head and Shoulders' breakout
On Thursday, spot silver rallied to a nearly three-week high on Fed rate cut bets and firmer industrial commodities.
After consolidating in the $2470-$2530 range for nearly three weeks, spot gold rallied to a fresh record high of $2555 on Thursday.
Short covering is seen in the Bank Nifty Futures, where we have seen 9 per cent fall in the open interest with Bank Nifty rising by 1.49 per cent.
Crude oil strategy, Sept 12: WTI crude oil rice may fall to $65 in medium-term
Traders should closely monitor this level, as any breach could lead to further downside, and the market might see a sell-off in auto stocks.
We are seeing noticeable traction in the FMCG counters and ITC is trading in sync with the move. It has formed a buying pivot, after registering a breakout from bullish continuation pattern.
Spot silver was steady around $28.30 at the time of the MCX closing. The MCX December silver contract at Rs 73,700 was up around 0.07 per cent.
PI Industries is in a strong uptrend and holding the gains at higher zones.
Spot gold was trading with a gain of around 0.20 per cent at $2514 at the time of the MCX closing. The MCX October gold contract at Rs 71,903 (LTP) was up 0.38 per cent.
The Nifty Bank Index is currently range-bound between the levels of 51,375 and 51,175. A breakout or breakdown from this range will likely trigger momentum in the respective direction.
Oil prices showed marginal recovery on Monday to settle a per cent up at $68.71, following its worst weekly fall since October 2023 as WTI fell 8 per cent and Brent was down 10 per cent.
Over the past 7-8 weeks, Laxmi Organic Industries has been trading within a relatively narrow range of approximately Rs 235-270, indicating a period of consolidation.
The recent correction in the Nifty 50 index should be seen as a pullback within an overall bullish trend on short-term charts. The best trading strategy for both traders & investors is to buy on dips.
Long build up is seen in the M&M Finance futures during the September series till now where we have seen 7 per cent rise in 'Open' interest with price rising by 5 per cent