In March, most of the small and midcap had corrected as much as 30-50 per cent prompted by market regulator Sebi's warning of expensive valuations in the space
Stock picks for April 24, Wednesday, based on technical analysis: NCC, Aegis Logistics, GNFC, Manappuram Finance and Castrol India look positive on the daily charts as Nifty SmallCap scales new high.
According to Ravi Nathani, an independent technical analyst, the Nifty Bank index is expected to face stiff resistance in the 48,500 - 48,900 range.
Stock market preview Wednesday, April 24: Global cues remain supportive; HUL, Axis Bank results coupled with upcoming monthly F&O expiry may induce market volatility today.
Stock market preview Tuesday April 23: Gift Nifty hints at gap-up open after US market ended on a strong note. RIL, Tata Consumer, Tata Elxsi, MCX and M&M Finance in focus today.
On Monday, Bitcoin traded at $65,000-mark as against the $63,000 level on Friday. Historically, Bitcoin has rallied post halving, will the trend continue? Here's all you need to know
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma index is quoting close to its ley support at 18,325; hence one may consider a buy on dip strategy here.
The NSE Nifty 50 is seen quoting close to its 100-DMA for the first time in six months amid the rising geopolitical tensions in the Middle East. Here's what the Nifty chart suggests.
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is quoting close to its support range of 33,400 - 33,300, with key momentum oscillators in oversold zone.
Among others, Bajaj Auto stock may slip up to 5 per cent, while Aether Industries is expected to trade on a range-bound note, technical charts indicate.
Technical charts suggest that Suven Pharma may trade with a positive bias in the near-term, provided the stock manages to hold above these key support levels.
Shares of VIP Industries have under-performed its benchmark NSE 250, with a fall of nearly 29 per cent as against a rally of 67 per cent in the last 18 months.
According to Ravi Nathani, an independent technical analyst, the Nifty may underperform and seek support around 22,445, 22,365, and 22,250 in the near term.
The MCX Gold futures have scaled new highs in the last 9 trading sessions, and surged 8.5 per cent. Charts suggest some consolidation likely ahead, as technical indicators are in overbought zone.
Apar Industries, CESC, Glenmark, Jubilant Pharma and Power India are trading in overbought zone; charts suggest bias to remain positive as long as these support levels hold.
As per an affidavit filed with the Election Commission of India, Rahul Gandhi's top stock holdings include Pidilite Industries, Bajaj Finance, Nestle, ITC, Hindustan Unilever and Tube Investments.
The Nifty IT index as underperformed the benchmark Nifty 50 so far this year. Will the upcoming Q4 results revive sentiment at these counters? Charts suggest that these 4 IT stocks look promising.
Nandish Shah of HDFC Securities recommends to Buy Tech Mahindra 1300 CALL and simultaneously Sell 1340 CALL for the April expiry.
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index can be sold with a stop at 40,320.
According to Ravi Nathani, an independent technical analyst, one can consider to buy the Nifty IT index on dips, whereas the Auto index can be short closer to the key resistance level.