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The consolidation is expected to continue as long as the frontline indices trade below short-term moving averages. Below are some short-term trading ideas to consider.
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The market needs a close above short-term moving averages for an upward journey; until then, consolidation may continue. Below are some short-term trading ideas to consider.
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The market is expected to remain in positive territory amid consolidation. Below are some trading ideas for the near term.
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The market is likely to be volatile with a negative bias in the coming sessions. Here are some trading ideas for the near term.
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Experts expect the Nifty 50 to focus on 21,800-22,000 levels in coming weeks after ongoing consolidation, while taking support at 21,700-21,500 levels and advising buy on dips strategy
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On the higher end, amidst favourable conditions Nifty seems potent to test 20,400 - 20,500 in the comparable period.
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Nifty stands at the strong polarity support of 16,800 – 16,750 levels, failing to hold which the index is likely to see a further correction towards 16,450 – 16,400 zones
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Godrej Consumer Products has seen a strong spurt in the last two trading sessions, backed by notable volumes on the daily chart, signifying positive development in the counter.
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Traders should keep focusing on stock-specific moves and should ideally remain light on positions till the time key indices consolidate in the recent congestion zone, Sameet Chavan of Angel One advised
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Max Financial Services jumped 3 percent to Rs 735.4 and formed long bullish candlestick pattern on the daily charts with above average volumes, with higher high higher low formation for third straight session. In fact, it has been in an uptrend after break out of long downward sloping resistance trend line adjoining September 20 and December 19, 2022, on January 3.
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The Nifty50 index is now more than 18 percent up from its June lows and is gradually gathering steam to reclaim 18,000 mark with crucial support at 17,500, experts said
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While a few analysts advise booking some profit now, others suggest it’s only a matter of time before the ITC stock resumes its rally.
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Torrent Pharma has broken out from the bullish “Flag” pattern on the daily chart. After four sessions of running correction, it has resumed its uptrend. Stock price has surpassed the previous swing high resistance of Rs 2,918.
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Some of the sector’s biggest companies sounded hopeful of revival in the second half of 2022-23 in their interaction with analysts following their earnings announcements
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Tata Elxsi on the daily chart has given a sharp V shape reversal rally and has formed an intermediate bottom at around Rs 6,800 levels. The prices have also given a downward sloping trend line breakout on May 18 above Rs 8,200 levels.
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The recent low of 15,671 is not far from the current levels now and the moment we slide below it, it will create a panic kind of situation in the market. Below this, 15,350-15,200 are the next levels to watch out for, says Sameet Chavan of Angel One
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Godrej Consumer Products is trading near 50-day SMA and the chart structure suggests a strong possibility of continuation of the uptrend in the near future
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With the possibility of escalation in tensions in Eastern Europe due to the Russia-Ukraine war keeping investors edgy, the brokerage firm says healthy earnings visibility can act as a cushion
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Experts feel overall the index has been rangebound and the surpassing 17,200-17,300 mark in coming days can be concluded as a completion of recent corrective phase.
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Here's what Mazhar Mohammad of Chartviewindia.in recommends investors should do with these stocks when the market resumes trading today.
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Here's what Gaurav Sharma of Globe Capital Markets recommends investors when the market resumes trading today.
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Gaurav Garg of CapitalVia Global Research believes the market has already factored in current economic conditions and might take the GDP data as a non-event.
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Strong corporate earnings and hopes that declining COVID-19 cases will prompt states to ease lockdowns have buoyed the market sentiment amid concerns of vaccine scarcity and downgrades of India’s growth outlook.
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Traders can adopt buy on dips approach until the support level holds and expect the trading range of 12,721 to 13,050 levels.
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Neeraj Chadawar of Axis Securities believes that the equity will continue to trade on higher multiples for some more time.
