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The market needs to reclaim and sustain above the 20-day EMA to witness a further northward journey in the upcoming sessions. Below are some short-term trading ideas to consider.
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The bearish sentiment may persist, given the index's breach of the 50 and 200-day EMAs, alongside the continuation of the lower highs-lower lows formation. Below are some trading ideas for the near term.
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The sentiment remains bearish, but considering the severe fall last week, consolidation and range-bound trade are possible. Below are some trading ideas for the near term.
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According to experts, the Nifty 50 needs to break its consolidation by decisively climbing above 24,400, which could open the doors for 24,700, while 24,100-24,000 is expected to be a key support zone. Here are some trading ideas for the near term.
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Therefore, traders are advised to hold longs with a strict stop-loss at 21,800 levels. The upside momentum is likely to accelerate once the resistance of 22,310 is broken.
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TD Power Systems has broken out from the symmetrical triangle on the daily chart with higher volumes. Primary and intermediate trend of the stock is positive as stock price is trading above its medium and long term important moving averages.
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After breaking out from the downward sloping trendline on the daily chart, Religare Enterprises is consolidating during last few days, indicating relative strength in the stock. Short and medium term trend remains positive as stock price is trading above all important moving averages.
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Watch the interview of SP Tulsian of sptulsian.com with Anuj Singhal, Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on fundamentals of market and specific stocks.
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Ashwani Gujral of ashwanigujral.com is of the view that one may exit Religare Enterprises.
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The index closed on a flat note but there plenty of action seen in the S&P BSE 500 index. Ten stocks rose in the range of 10-22 percent in just 5 trading days which include names like Radico Khaitan which rallied 22 percent, followed by Hatsun Agro which surged 15 percent, and Religare Enterprises was up by 15.5 percent in the same period.
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The midcap index was the outperforming sector in the early hours of trade led by Biocon, Bharat Financial Inclusion, JSW Energy and Hindustan Zinc while Bharti Infratel followed by Hindalco Industries and Sun Pharmaceutical Industries were the top gainers.
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The top loser in Nifty50 Index were Indiabulls Housing Finance followed by Bajaj Finance and State Bank of India while the stocks that hit new 52-week low on the Nifty were Amara Raja Batteries, Wockhardt and Reliance Communications.
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Gaurang Shah of Geojit Financial Services is of the view that one may prefer Federal Bank.
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Mitessh Thakkar of mitesshthakkar.com is of the view that one may exit Religare Enterprises around Rs 100.
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Pankaj Jain of Sunteck Wealthmax recommends to go long on Religare Enterprises, DCB Bank and Reliance Capital.
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SP Tulsian of sptulsian.com advises to buy Mangalore Chemicals with a target price of Rs 48.50 and Marico with a target price of Rs 215.
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Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.
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Religare Enterprises took support at Rs 450. It has poised a long-term to about Rs 560. So, a long-term investor certainly have a reason to be in it. Even for short-term, getting next 12-15% move is fairly possible. So this will outperform, says Rahul Mohindar, viratechindia.com.
