Support levels are crucial in this corrective phase, and for the Nifty FMCG Index, key support levels are identified at 61,180 and 59,500.
Crude oil trading strategy today, Aug 29: Weakness in the crude crack spread is bearish for oil prices
Borosil Renewables has recently experienced a significant price decline after reaching its peak near Rs 573, losing around 87 points, which translates to a 15 per cent drop.
PFC has registered a decisive breakout from the intermediate falling resistance trendline with strong volumes.
Lupin stock has breached its previous ATH price of 10 years on the monthly chart with massive buying volumes which suggests very bullish sentiment.
Trend of the Nifty is bullish and long positions should be held with 24,875 stoploss on closing basis. On the higher side, 25,078, 25,300 and 25,500 are the next resistances.
The Nifty Bank Index is currently exhibiting a bullish trend on the charts, suggesting a positive outlook for the near term.
Brent crude, WTI oil trading strategy today, Aug 27: We expect oil prices to face immediate resistance of $80 and the rally would find it difficult to sustain above it
The best trading strategy for the Nifty PSU Banks Index would be to adopt a "buy on dips" approach.
On the lower end, there has been an ascend to the support zone, starting from 24,750-24,700, followed by 24,650- 24,600 with anticipation of dips auguring well for the bulls.
Apollo Tyres has recently experienced a notable decrease from its peak of 568 to approximately 200 SMA on the daily time frame chart.
The Nifty50 Index is currently showcasing a bullish trend on the charts, indicating strong upward momentum in the near-term.
After peaking around the Rs 101 mark in September 2023, the IDFC First Bank stock underwent a significant correction, dropping by 30 points, equivalent to a 29.34 per cent decline from its high.
Short covering is seen in the Bank Nifty Futures, where we have seen 3 per cent fall in the open interest
Nifty may pause around 24,850 before moving towards the 25,000 level. In the event of a dip, we expect the index to find support in the 24,450-24,600 zone
In recent trading sessions, IndusInd Bank has demonstrated resilience by holding steady at its crucial historical support level of Rs 1,335
Technical indicators such as MACD (Moving Average Convergence Divergence) and Moving Averages also support the expectation that the index will outperform in the near term
Vijaya Diagnostic has broken out from symmetrical triangle on the daily chart. Price rise was accompanied by healthy volumes
Nestle India and Lodha (Macrotech Developers) are among the top stock recommendations of Jigar S Patel of Anand Rathi
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