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January 31, 2023 05:14 PM ISTThe level of 17,700 will be the initial hurdle for the market on Budget Day followed by 17,800-18,000, experts said
January 31, 2023 06:42 AM IST Mahindra CIE Automotive was the fourth gainer in Nifty500 index, rising nearly 7 percent to end at record closing high of Rs 385 and formed long bullish candle on the daily charts which resembles Bullish Engulfing kind of pattern formation.
January 31, 2023 06:38 AM IST JSW Steel has given bearish breakout from the Head and Shoulder pattern on the daily chart. It has breached crucial supports of 50 and 100-day EMA. Indicators and oscillators like RSI and MACD have turned bearish on the daily charts.
January 30, 2023 05:18 PM IST A pullback rally could be seen if Nifty trades above 17,550 level. Above the same, the market could rally till 17,750-17,800, says Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities. On the flip side, below 17,550, it could slip to 17,400 - 17,350.
January 30, 2023 10:12 AM IST Experts predict a lot of volatility given the Union Budget week, but if the Nifty manages to hold the 50 WEMA, then there are fair chances that the index can easily surpass the 17,800-18,200 zone in the coming days, followed by 18,500
January 30, 2023 09:54 AM IST Rohan Shah of BP Wealth is bullish on Ashok Leyland, Max Healthcare, Supreme Industries, IRCON, and Apollo Tyres as he sees 17,470-17,420 as a strong support zone for Nifty50.
January 30, 2023 06:37 AM IST ITC has formed bullish candle on the daily charts with higher high formation for fourth straight session, with above average volumes for last several sessions. It has given a decent breakout of long downward sloping resistance trend line adjoining multiple touchpoints at higher levels (November 9, November 11 last year, and January 25, 2023).
January 30, 2023 06:25 AM IST Though Max Financial Services might look lucrative after a 33 percent up move in the current month whereas broader market almost remained negative. But one needs to be cautious and look at the bigger picture.
January 27, 2023 05:52 PM IST The 200-day exponential moving average (17,550) and January 27 low of 17,494) are the two levels to watch, though a minor pullback rally can't be ruled out after the bloodbath, say experts
January 27, 2023 08:05 AM IST Route mobile was also in focus, rising 1.4 percent to Rs 1,247 and formed bullish candle with long upper shadow on the daily charts, indicating some profit booking at higher levels.
January 27, 2023 07:34 AM IST Carborundum Universal took strong support at 20-month SMA and sustaining at 11-month high. This shows overall bullish undertone of the prices.
January 26, 2023 11:57 AM IST The Nifty, he says, has to hold the 17,777 zone for any kind of upward move. If it doesn’t, the index may fall to the 17,500-17,350 range. The metal index is trading near its life-time high and can hit 7,000, Taparia says.
January 26, 2023 10:39 AM IST The index remained below the 50-day exponential moving average on the daily timeframe, confirming the bearish trend.
January 25, 2023 05:08 PM IST The sentiment may remain negative below 18,000 and the decisive break below 17,800 can drag the index to 17,700-17,600, with resistance at 18,000-18,200 levels, experts said.
January 25, 2023 06:57 AM IST L&T Technology Services was also in action, rising 3 percent to Rs 3,426 and formed bullish candle on the daily charts with upper shadow, with higher high higher low formation after forming Bullish Engulfing kind of pattern in previous session. The volume remained high for yet another session.
January 25, 2023 06:53 AM IST Gravita India is in an awesome uptrend with a breakout of long consolidation and strong volume. The overall structure of the counter is very lucrative, as it is trading above all important moving averages. On the higher time frame, there is a breakout of a Bullish Flag formation, which suggests much more potential upside in this counter.
January 24, 2023 05:02 PM IST Going forward, the psychological 18,000 mark is expected to be crucial support for the index and 18,200 is likely to be key resistance area as surpassing it on a closing basis can take the index to 18,300-18,500 levels, experts say
January 24, 2023 06:40 AM IST GAIL India shares hit Rs 100 mark after a long time and rallied more than 3 percent to Rs 102.25, the highest closing level since May 20, 2022 and has formed long bullish candle on the daily charts with strong volumes, with higher high formation for fifth consecutive session.
January 24, 2023 06:27 AM IST IOC has broken out on the weekly chart from the downward sloping trendline adjoining the highs of April 22, 2022 and December 16, 2022. Trend of the stock is positive as stock price is trading above its important moving averages.
January 23, 2023 05:10 PM IST The Nifty has to decisively surpass the last week's high of 18,184 to gain momentum. Initial hurdles will be 18,200 and 18,300, while support will be at 18,000, experts said
January 23, 2023 11:55 AM IST The upcoming week can be approached with a low-risk strategy like modified Put Butterfly in Bank Nifty.
January 23, 2023 10:57 AM IST To negate the downtrend, Nifty has to surpass 18,500 on a closing basis, says Vinay Rajani of HDFC Securities.
January 23, 2023 09:11 AM IST Experts feel the 17,800-18,200 range is expected to break on either side after the announcement of the Budget, hence, if the Nifty breaks 18,200, then 18,500 is the level to watch out for
January 23, 2023 06:42 AM IST Swan Energy was in focus last week, rising 11 percent to at record closing high of Rs 362 and formed large bullish candle on the weekly timeframe with above average volumes. It has seen a breakout of horizontal resistance trend line adjoining May 2, 2022 and January 2, 2023.
January 23, 2023 06:31 AM IST Taking a glance at the rising volumes, we expect the momentum to extend in Dabur India in the forthcoming week.
