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The consolidation is expected to continue until the Nifty 50 delivers a strong close above the midline of the Bollinger Bands. Below are some short-term trading ideas to consider.
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The market may see some consolidation after the sharp run-up in the past three days. Below are some trading ideas for the near term.
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The market is expected to remain rangebound until it decisively rebounds and sustains above the 200-day SMA. 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 market is likely to maintain its upward rally, albeit with consolidation and volatility in the coming sessions. Here are some trading ideas for the near term.
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Given the current chart structure, a consolidation phase is expected in the Nifty 50.
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A move above 21,800 can lead to a short-covering move towards 22,000 and 22,200 levels on the Nifty 50.
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Currently, the market landscape is defined by the 20,900–21,600 range.
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Bharat Forge has formed long bullish candlestick pattern with minor upper & lower shadows on the daily scale with robust volumes. The stock climbed above 21 as well as 50-day EMA on Monday.
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For the the current week, 19,500 might be an important support on a closing basis. A convincing move below the same might bring the swing low of 19,333, which is also the low of Doji under threat. This can be a fresh trigger for further panic.
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Paytm has seen a breakout of downward sloping resistance trendline adjoining highs of August 25 and September 11 in the beginning of trade and formed long bullish candlestick pattern on the daily timeframe with above average volumes.
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Experts expect the rally to continue in the coming sessions, with the Nifty 50 moving towards 19,100-19,200 levels, after which minor profit booking can't be ruled out.
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Kalyan Jewellers India hit an intraday record high. It has a decisive breakout of recent consolidation and formed robust bullish candlestick pattern on the daily charts with significantly higher volumes.
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Kirloskar Ferrous Industries has broken out of a long consolidation period. A breakout from this consolidation suggests a potential shift in market sentiment and an increased likelihood of a sustained move in the price.
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Kalyan Jewellers India also came back strong after recent consolidation, rising nearly 10 percent to Rs 119.5, and formed strong bullish candlestick pattern on the daily charts with robust volumes.
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JBM Auto was also in action, climbing 5 percent to Rs 581, the highest closing level since April 22, 2022 and formed long bullish candle on the daily charts, with making higher high higher low formation. This stock also traded above all key moving averages, which is a positive sign.
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Kalyan Jewellers India has moved above the recent consolidation, indicating a rise in optimism. The rally in price has been backed by a rise in volume.
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Poonawalla Fincorp surged 14 percent to Rs 280.5 and formed big bullish candle on the daily charts, in fact engulfing both previous red candles, with large volumes. The stock has seen a decisive breakout of big horizontal resistance trend line adjoining February 16 and December 23.
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Kalyan Jewellers India was also in focus, rising 5.5 percent to end at record closing high of Rs 125.45. The stock has formed big bullish candle on the daily charts with robust volumes. Also there was a breakout of small downward sloping resistance trend line adjoining December 13 and December 15, 2022.
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In Tuesday's trading session, Kalyan Jewellers India witnessed a long-term downsloping trendline resistance with heavy volume and managed to close above 6 months swing high. There is a breakout of Bullish Flag formation in a shorter time frame that generates further momentum.
