When a stock becomes oversold, it does not automatically mean it is a good time to buy, cautions Pabitro Mukherjee, Deputy Vice President-Research at Bajaj Broking.
The pace at which FIIs have added short bets in index futures accelerated in the last three trading sessions, says Dharmesh Bhatt, Head-Derivatives Research at Systematix Institutional Research.
According to the NSE F&O data, FIIs have net sold index futures worth ₹10,397 crore thus far in the September series; Nifty OI now at 2-month high. Tech analysts flag key support levels on Nifty.
Anand James, Chief Market Strategist at Geojit Investments says incorporating the CAS market action into the final analysis makes chart reading more interesting and nuanced.
Technical analysts flag presence of multiple hurdles in the 24,000-24,200 region for the Nifty; on the downside, they expect immediate support at 23,800.
On average, Nifty's monthly trading band expanded to nearly 6%, and up to 12% in the following four months after a range contraction, according to NSE's 3-year monthly data.
HDFC Bank stock is testing its 100-month moving average - an eight-year mean - for the first time in its 30-year history; the ₹700-mark is key support to watch, says technical analyst, Drumil Vithlani
Pabitro Mukherjee of Bajaj Broking flags a bullish 'cup and handle' and 'falling trendline' breakout on these smallcap stocks Engineers India and Sagility on the charts.
While Nifty may be struggling to make new highs, history, analysts said, suggests such extended periods of failing to cross the previous day's high have often been followed by a meaningful upside.
Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One believes that the technical set-up of Titan, Kalyan Jewellers and Hindustan Zinc suggests further upside for these stocks.
Jatin Gedia of Teji Mandi believes that Bank Nifty and Nifty Realty are in a consolidation phase, while the support zone for the Nifty Auto index moved higher following the recent breakout.
Bajaj Broking in its high-conviction stock pick, recommended a 'Buy' rating on Religare Enterprises, citing a breakout on the weekly chart and above the falling trendline.
Technical analysts flag that Nifty ranged between 23,600-24,600 after the initial rally in FY27; however, select momentum indicators show improvement for the BSE, NSE benchmark indices on charts.
The NSE Nifty 50 index has been quoting below its long-term 200-day moving average since February 27, 2026.
On the broader market outlook, Ajit Mishra, SVP-Research of Religare Broking says the Nifty remains in consolidation mode, with key support at 23,600. On the upside, bullish pivot stands at 24,600.
The tug-of-war between the bulls and bears continue as the market lacks direction, suggests the ADX index, which needs to cross the 25-mark for a directional move, says Ajit Mishra of Religare Broking
Muthuselvaraj M, technical research analyst, Mirae Asset Sharekhan believes that UltraTech Cement stock can gain in the short- to medium-term as momentum indicators are showing strength on the chart.
Om Mehra, technical analyst of SAMCO Securities believes that ICICI Bank sharp price can rally to a new high; while the key support for HDFC Bank stock now stands at ₹772 on the charts.
Tech analysts see immediate support for Nifty at 24,100, below which strong support is expected around the 24,000-mark.
Reliance stock has decisively crossed the 20-day EMA, and is seen hovering around the 200-week EMA, highlights Sudeep Shah, technical & derivative analyst at SBI Securities.