While the trend looks fragile, key supports are continuing to bolster the up move
According to Ravi Nathani, an independent technical analyst, support levels are projected at approximately 19,525 and 19,425 for Nifty Financial Services index
OMC stocks are displaying bearish sentiment, if fails to hold key supports then could enter medium-term selling bias.
According to Ravi Nathani, an independent technical analyst, a downward correction is likely for Nifty50 if it breaches below 19,300-mark
Bajaj-Auto, HIndalco, Dr. Reddy's Laboratories, NTPC, and IDFC First Bank may rally up to 15 per cent, show technical charts
Hindustan Unilever to hit new 52-week low if the support of Rs 2,520 is breached
Nifty Realty index to rise up to 5 per cent in the coming weeks, post delivering bullish breakout on the charts.
Nifty Private Bank index to face resistance between 23,550-23,650; Nifty FMCG remains range-bound, says Ravi Nathani
So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy
Within the range of 19700 to 19425, investors are advised to accumulate the Nifty Financial Services index and its constituents, says Ravi Nathani
Barring, Pfizer, Gland Pharma, and Laurus Labs, all other constituents of Nifty Pharm Index trade over the 200-day simple moving average (SMA),
Nifty50 and Bank Nifty indices crucial support (immediate) at 19,575 and 45,236; should be bought as the overall trend remains bullish, says Ravi Nathani
Trend in Bajaj twins remains sluggish and may slide in bear's grip if key levels are breached
Buy Bank Nifty 45,500 Put option and simultaneously Sell 45,500 Call of the 03-August expiry, suggests Nandish Shah, Sr. derivatives & technical research analyst at HDFC Securities.
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is signalling potential correction, while the Metal index remains bullish.
Technical charts of M&M shows weakness, while RBL Bank continues to remain resilient.
According to Ravi Nathani, an independent technical analyst, given the overbought conditions on Nifty Pharma traders are advised to book profits and adopt a cash position for near- and short-term.
The broader trend in the cement sector remains optimistic, price action riding along the overall bullish sentiment
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.