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The market may see some more consolidation amid rangebound trading in the upcoming sessions. Below are some short-term trading ideas to consider.
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The trend is likely to remain favourable for the bulls, but some consolidation can't be ruled out. Below are some short-term trading ideas to consider.
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The Nifty 50 is expected to consolidate until it decisively breaks the previous week's range on either side for a firm direction. Below are some short-term trading ideas to consider.
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The trend is expected to remain in favour of the bulls, despite intermittent profit booking in the upcoming sessions. Below are some short-term trading ideas to consider.
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The market may turn positive amid rangebound trading. Below are some short-term trading ideas to consider.
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The market is expected to remain directionless in the upcoming sessions until it decisively breaks the trading range of May 15. Below are some short-term trading ideas to consider.
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The Nifty 50 is likely to hit 24,100-24,200 at the start of the July series, provided it holds 24,000. However, failure to do so can drag it towards 23,800. Here are some trading ideas for the near term.
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Over the short term, the Nifty 50 may trend towards 22,650. Support is positioned at 22,350 on the lower end.
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Overall, the Nifty 50 will remain in a consolidation mode as long as it stays below 22,100 mark, experts said, adding the index is likely to take support at 21,500 level.
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Experts expect the Nifty to hit 21,500-22,000 points in coming months. The Nifty has formed bullish candlestick pattern with long lower shadow on the daily charts on December 5, indicating buying interest at lower levels.
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Immediate support for the Nifty has now shifted up at 20,500 odd levels, while immediate resistances for the Nifty are seen at 20,743 and 21,193.
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With decisively surpassing previous record highs and making higher highs, higher lows formation along with healthy volumes on daily charts last week, the Nifty50 is likely to march further northward with eyeing 20,400-20,500 zone.
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The Nifty Index is currently entrenched in a compelling bullish trend, with the potential to advance toward the 20,604 levels in the short to medium term.
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Hindalco Industries has seen a breakout of downward sloping resistance trendline adjoining highs of January 18, September 4 and September 12, with a strong volumes, which is a positive sign.
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The prevailing sentiment remains optimistic in the Nifty50, contingent on Put writers safeguarding the 19,900 levels.
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Bank of India saw a breakout of downward sloping resistance trendline adjoining highs of December 15 last year and August 18 this year, with strong volumes.
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Traders should cut their short positions if Nifty surpasses 19,650 resistance.
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If the index breaks 19,300, then it may get the next support around 19,000, whereas on the higher side, 19,600-19,650 is expected to be a crucial hurdle in the near term, experts said
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NSE Smallcap Index is in full momentum and we expect it to register new all-time high above 12,047 and go beyond in the near term.
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The psychological mark of 20,000 that was just missed last week remains an immediate hurdle, followed by the golden retracement target of 20,100 – 20,200
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Traders are advised to hold longs with trailing stoploss of 18,500 in Nifty on the closing basis.
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Hindustan Construction Company has been forming higher tops and higher bottoms on the daily charts. The stock price is placed above all important moving averages. Indicators and oscillators have tuned bullish on daily and weekly charts.
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IDBI Bank shares gained nearly 3 percent to close at Rs 54.30, the highest closing level since November 10, 2021 and formed high wave kind of pattern on the daily charts, making higher highs higher lows for third consecutive session.
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Castrol India was in focus, rising 3.5 percent to Rs 134.55, the highest closing level since November 15, 2021 and formed healthy bullish candle on the daily charts with above average volumes.
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Since last 5 months Mrs. Bectors Food Specialities is making higher highs and higher lows indicating up thrust in the counter. At current juncture it has reversed from 200 DEMA high and low channel indicating upside in the counter.
