According to Ravi Nathani, an independent technical analyst, the trading strategy for Nifty and the Bank Nifty is 'sell on rise'.
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is trading in overbought zone, hence some reversal can be anticipated.
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is likely to face stiff resistance between 38,000 - 38,125.
According to Ravi Nathani, an independent technical analyst, the Nifty IT index seems range-bound on charts, while auto in a declining trend.
The index had slipped below the 50-DMA back in November 2023, too, but recovered.
As many as 49 stocks turned ex-dividend on the bourses this week. Here's a quick chart check on select five among them.
Technically, the stock seems placed unfavourably on multiple parameters. However, a pullback cannot be ruled out, as it trades in oversold zone too.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG exudes a bullish short-term trend; while the Metal and Realty indices suggests a sell strategy.
A trade below 37,968 could prompt a stop-loss trigger for bullish positions on the Nifty Energy index, says Ravi Nathani, an independent technical analyst.
As per the technical charts, Reliance and TCS seem placed favourably on the charts; hence, the stocks could see further gains in the coming trading sessions.
Among individual stocks, Vinay Rajani, technical & derivative analyst at HDFC Securities, recommends to Buy NCC and Sonata Software for up to 18 per cent upside.
The stock has rallied over 67 per cent since late November, and looks to be favourably placed on multiple time-frames as per the technical charts.
According to Ravi Nathani, an independent technical analyst, the Nifty PSU index is current exhibiting a range-bound pattern; whereas Pvt Bank seems weak.
IOC is likely to trade on a bullish note as long as the stock sustains above Rs 165, suggests the daily chart.
According to Ravi Nathani, an independent technical analyst, the Nifty is moving in a trading band of 21,650 - 22,000.
The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally
A detailed analysis indicates a trading range between 46,050 on the upper side and 44,430 on the lower side, as per Ravi Nathani
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is seen oscillating between 37,930 and 36,136 trading range.
As stocks turn volatile post Q3 results, watch out for these key levels on the likes of ICICI Bank, Hindustan Unilever, CoForge and UltraTech Cement among others and plan your trading strategy.
The Nifty has declined over 3 per cent in the last two trading sessions, and is seen trading below its 20-DMA for the first time since November 07, 2023.