Nifty Auto, and Nifty FMCG indices are likely to face resistance in the near-term, hence the best trading strategy to adopt is to sell-on-rise, said the technical analyst
Indigo shares may hit a new historic peak once it settles over Rs 2,200 level.
According to the technical analyst, Mastek resumed its uptrend after running correction from recent swing high, whereas shares of Metro Brands broke out from multi-week consolidation
Adani Enterprise , in particular, could see a rally of up to 11 per cent in coming sessions
According to the technical analyst, traders are highly recommended to accumulate the Nifty and its underlying constituents during any dips, preferably near the support levels
The Smallcap index seems poised to hit the 10,000-mark.
According to Ravi Nathani, an independent technical analyst, one can adopt a 'Buy on Dip' strategy in Nifty Energy, Commodities and MNC indices.
Despite benchmark indices witnessing corrective phases in recent months, GAIL (India) and Power Grid Corporation of India, in particular, have been entering uncharted territories effortlessly.
According to Ravi Nathani, an independent technical analyst, one should look to book profits in Nifty Realty either at current levels or on rally.
Railway related stocks are poised for next leg of upside, shows techncial charts
On the broader market outlook, Vinay Rajani the technical & derivative analyst expects the Nifty to move in the 17,842-176,84 range in the near term.
According to Ravi Nathani, an independent technical analyst, the Auto index seems trapped in the 12,950 - 12,830 range. Whereas, the FMCG index is expected to face stiff resistance around 47,200.
Zydus Lifesciences, in particular, has been scaling 52-week highs with momentum staying highly elevated. Also, Aurobindo Pharma shares have seen a steeper rise, with aggressive chart structures.
According to Ravi Nathani, an independent technical analyst, the Nifty Private Bank index can also be sold at current levels, with 21,250 seen as a crucial support for the index.
Except for Hindustan Zinc, which hit a new historic peak in the Q4, others have remained laggards.
According to Ravi Nathani, an independent technical analyst, the Bank Nifty is expected to face resistance around 42,615-42,950-43,600.
Select hotel stocks may rise up to 20 per cent in coming sessions, as per the technical charts
According to Ravi Nathani, an independent technical analyst, the Nifty Midcap 50 Index may consolidate in a range of 8,800 - 8,736.
While the overall trend in the new-age companies has been negative, selective stocks are reflecting a robust comeback. If they succeed in restoring their optimistic faith, the price action may offer s
Major Non-Banking Financial Company (NBFC) shares could offer significant gains from a short-to-medium term perspective, as their present formations on technical charts illustrate a long-term upside.