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The market may remain consolidative and rangebound until it gives a strong close above all key moving averages. Below are some short-term trading ideas to consider.
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The market may remain rangebound in the upcoming session until it decisively surpasses the previous day’s high. Below are some short-term trading ideas to consider.
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The market may extend the upward move amid consolidation, but sustainability will be key to watch. Below are some trading ideas for the near term.
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The consolidative phase is likely to continue in the market despite the overall positive trend. Below are some trading ideas for the near term.
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The Nifty 50 continued to defend 24,300, and if it breaks this level, then 24,200-24,100 is the next likely support area, while the resistance is placed at the 24,400-24,500 zone. Here are some trading ideas for the near term.
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Experts advise traders to remain light from here on as the market is now approaching the final phases of the election.
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Experts expect the momentum to sustain in the coming weeks, too, with immediate resistance at 22,500-22,600, followed by the medium-term target of 23,000, provided it holds the upward sloping resistance trendline
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Jindal Steel & Power formed strong bullish candlestick pattern on the daily timeframe with healthy volumes. The stock remained above all key moving averages which is a positive sign.
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The overall trend looks positive for the Nifty50.
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BPCL was also in action, rising 2.35 percent to Rs 360 and formed bullish candle with long lower shadow on the daily charts, indicating support-based buying in the stock. The trading volumes remained strong in last three days, with the stock coming back above all key moving averages.
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NALCO has given a consolidation breakout on the daily chart, suggesting a rise in optimism. Besides, the rally was backed by a rise in volume. The stock has sustained above the critical moving averages on the daily chart.
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The trend seems to be reversing for the IT sector as HCL Tech & Infosys see maximum upgrades in the past one month while HUL and Tata Motors were the top stocks to witness maximum downgrades
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Pent-up demand continues to propel auto stocks, while rising interest rates auger well for financials. However, the anticipated global slowdown is spoiling the party for IT and metal companies
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The pragmatic strategy would be to stay light on positions and be stock-specific, said Sameet Chavan of Angel One
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Traders can look to trade with a positive bias and buy Reliance Industries in the range of Rs 2,460-2,450 for a potential target of Rs 2,600 in the near term. One should place a stop-loss below Rs 2,380 on long positions
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If Nifty manages to hold 17,700 and move higher first, then 18,000–18,200 are to be considered as strong hurdles which, as of now, we do not expect to get surpassed in the near future, says Sameet Chavan of Angel One.
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Experts said the momentum is expected to remain in the bulls’ basket but considering the hefty run-up until last week, some amount of profit-booking and consolidation can’t be ruled out
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"The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000," said Ruchit Jain of Angel Broking.
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Production and consumption of petroleum products has increased steadily in India over the decades, a trend that’s expected to continue.
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If Nifty has to reach and surpass 16,000, the banking sector will play a vital role. The banking index has to surpass 36,000 if we have to see the benchmark Nifty at new highs, said Sameet Chavan of Angel Broking
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Given the expected strong momentum, experts advise top 14 stock picks that are available at attractive valuations now
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On the higher side, 14,875–15,050 are the levels to watch out for, while on the lower side, 14,450-14,350 is a key support. zone.
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The outlook for many sectors has improved following various steps, including Budget proposals, announced to revive and accelerate economic growth
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LIC Housing Finance is the fresh addition in its portfolio as it is a value play (1.0x PBV) supported by pick up in home loan demand, and builder NPL resolutions
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The entire bullish view negates on a breach of the immediate support zone and in the case of BPCL, we will consider Rs 355 as a stop loss level.
