In the worst case, the Nifty can slide another 14% towards 20,300-odd levels. For now, near support for the index is seen at 23,250 and 22,900 levels, shows technical chart.
Nifty Energy is currently trading near critical support levels, around 37,700 and Nifty FMCG is showing a clear downtrend on the charts, with a key support level anticipated around 55,900
Reliance stock is down nearly 22% from its record high; historically, in the past decade, barring the 50% fall during Covid-19 sell-off, RIL stock has bounced back after a 21% correction.
F&O cues for Nov 12: Options data hint support for Nifty at 23,950; with a high probability of a bounce back towards 24,500 - 24,700; says Sahaj Agarwal of Kotak Securities.
F&O cues for Nov 11: Nifty's outlook has shifted to a bearish-to-sideways bias, as multiple rally attempts have been thwarted by sellers, says Dhupesh Dhameja of SAMCO Securities.
F&O cues for Nov 08: According to the options data, the max pain level for the Nifty now stands at 24,200, and for Bank Nifty at 52,100; says Dhupesh Dhameja of SAMCO Securities.
Trading strategies in Nifty and Bank Nifty by market experts: Consensus view is that Nifty may hold the bullish bias as long as the index holds above 24,000-mark; check key levels here.
F&O cues for Nov 07: Meanwhile, Bank Nifty PCR dipped to 0.72, reflecting a shift towards a cautious outlook, says Dhupesh Dhameja of SAMCO Securities.
Analysts believe that Indian export-oriented sectors such as pharma and IT may experience challenges under Donald Trump's rule. Here's how Nifty IT and Pharma indices are placed on charts.
Derivatives market update: The current low open interest in Nifty implies signs of profit booking rather than fresh short position, believes James Kunnel, Derivatives Analyst at Asit C Mehta.
F&O cues for Nov 06: The Nifty options data reflects a cautious outlook, with call writing significantly outpacing put activity, says Dhupesh Dhameja of SAMCO Securities.
F&O cues for Nov 05: However, as long as the Nifty holds above 23,890, a potential pullback could drive it towards 24,200 - 24,300 levels, says analyst at Asit C. Mehta.
Charts suggests that the Sensex could slide down to 72,000 levels, in the worst-case scenario, wiping out all the gains made thus far in calendar year 2024 (CY24).
F&O cues for Nov 04: The NSE F&O data shows that FIIs hold more than 3 short bets in index futures for every bullish position. Retail hold 2 longs for every short.
F&O cues for Oct 30: Nifty options reveals a neutral sentiment with Call and Put activity nearing parity, and the PCR rising to 0.93, said Dhupesh Dhameja of SAMCO Securities.
F&O cues for Oct 29: Analysts expect the Nifty to extend gains in case of sustained trade above 24,500 levels; key support on the downside seen at 24,100.
In the past two months, Grasim has consistently encountered resistance around the 2,800 level, indicating that it struggles to break past this mark
Thermax has demonstrated impressive strength in a sluggish market, delivering a bullish range breakout on Friday, signaling a continued uptrend into next week
If the Nifty is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels, charts suggest.
A weekly close below 24,400 shall indicate a significant change in the medium-term trend to bearish, with a risk of sustained fall to near about 23,000 levels on the Nifty 50 index; suggest chart.