Traders must adopt a bullish stance on the market as the Nifty 50 index closed above 17,870, indicating that bulls are likely to be stronger than bears in the near-term, says Ravi Nathani
Descending Triangle breakdown on Nifty Bank index may see up to 5% decline
As per the technical analyst, the Budget session high of 17,973 and low of 17,353 have become crucial levels to watch out for any directional move in the Nifty index
According to the technical analyst, he recommends traders to adopt sell side position for Nifty Metal index or wait for bearish correction to culminate before commencing accumulation at support levels
Back in 2012, when the stock climbed over the same average, the stock price doubled in three years. The 50-MMA has become a decisive indicator for the shares of Vodafone Idea.
According to the technical analyst, traders should adopt a strategy of purchasing near support and selling near resistance for the Nifty financial services index
A new all-time high on Nifty FMCG index may trigger up to 25 per cent upside in selective stocks
Shares of Tata Consultancy Services, Infosys, HCL Technologies, Coforge and Persistent Systems are indicating chart structures that reflect resumption of their short-to-medium term upmove.
Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move
ITC stock needs to sustain over Rs 350 to embark a new bull-run
Whenever a stock hits a new 52-week low, further fall from a medium-term scale appears realistic, with price endorsing further correction of 10 per cent to 12 per cent.
Check out the trading strategies in these frontline counters in a choppy market.
Rail Vikas Nigam, Titagarh Wagons and Texmaco Rail & Engineering may soar up to 18 per cent in coming sessions
Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics have skyrocketed 87 per cent, 79 per cent, and 44 per cent, respectively, since Budget 2022
Volumes spurt were significantly higher during strong positive closes than during negative sessions.
Over half of the stocks in Nifty Metal Index are trading with a bullish sentiment ahead of Budget 2023,
After evaluating the RIL shares on all three time frames; short-term, medium-term and long-term, it appears to be positive as long as it shields the support of Rs 2,200 levels.
According to the technical analyst, the Nifty 50 is expected to get strong support in the range of 17,925 to 18,000.
A sustained move over the 50-DMA of Rs 3,881 could see the counter heading towards recording a new historic peak
According to the technical analyst from Anand Rathi, BPCL and Wipro can pullback to Rs 270 and Rs 430, respectively.