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
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.