The FMCG index has breached previous reversal support, igniting fear of caution among retail traders. This move emerged after the index reached a new historic peak a few sessions ago.
While the medium-term outlook remains highly optimistic, the stock may remain choppy in the near-term
ICICI Bank remains strong on charts post delivering Q1 results last week
Listed NBFC stocks are currently facing selling pressure at higher levels, show technical charts
The range breakout in both the indices have triggered fresh upside
Technically, when any stocks crosses crucial hurdles and witnesses accumulation at key supports, the trend is expected to witness robust upside ahead.
The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness.
Market participants closely monitor the RSI to determine the strength based on 70 and 30 values. This assists in identifying instruments that are supposedly experiencing increased buying or selling.
Pharm index has broken out on upside, with the positive rally anticipated to hit 14,450
Stock Market Live on May 29, 2023: Asian markets climbed higher after the US striked a tentative debt deal. Nikkei led gains, rising 2%. Hang Seng, Strait times, S&P/ASX 200 and Kospi rose 0.2-1%
Stock market live updates: The SGX Nifty, on Friday, indicated a muted open for benchmark indices as it stood around 18,423 levels, down 43-odd points, amidst mixed sentiments across global markets
Stock market live updates: The SGX Nifty, on Thursday, signaled at negative start for the bourses as it stood around 18,270 levels, down 14-odd points
CLOSING BELL: Broader markets, too, remained upbeat throughout the day as Nifty MidCap 100 and Nifty SmallCap 100 outperformed benchmark indices to close up to 2 per cent
CLOSING BELL: Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.4 per cent.
Scheme provides a settlement opportunity to entities that have executed trade reversals in stock options from April 2014 to Sept 2015, and against whom adjudication proceedings are pending
They could replace Piramal Enterprises, Gland Pharma, Mphasis, Muthoot Finance, Bandhan Bank and Paytm, which may move to mid-cap space, reveals analysis by Brian Freitas of Periscope Analytics
They turn cautious and prefer defensive bets
Over the past few years, the return from the stock market has been far higher amid abundant liquidity that poured in from foreign and domestic investors
In the past one month, the S&P BSE Sensex and the Nifty50 have gained around 8 per cent each with a large part of these gains coming via the BFSI route
In five days, the 30-share BSE benchmark has rallied 2,265.8 points or 4.24%