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According to experts, the rate cut was on expected lines but change in stance was unexpected. They see more rate cuts in the coming policy meetings
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The momentum is expected to continue in the upcoming session. Below are some trading ideas for the near term.
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For deeper positive retracement, the Nifty 50 needs to close above prior day’s high, until then use pullback to sell for a move to 21,800 levels. Immediate hurdle is at 22,580 on upside, said Ashish Kyal.
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Further downward movement seems possible in the market in the upcoming sessions. Below are some trading ideas for the near term.
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The upward journey may continue if the bulls gain further strength in the upcoming sessions. Below are some trading ideas for the near term.
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The market may consolidate further and take cues from the RBI policy for further direction. Below are some trading ideas for the near term.
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The bullish sentiment is expected to sustain with the VIX reaching a one-month low. Below are some trading ideas for the near term.
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NIfty is expected to test the upper band of this channel, around 23,000 or higher. Consequently, the recommendation remains to buy on dips, at least until the elections
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The market is anticipated to sustain its upward bias in the forthcoming sessions. Here are some trading ideas for the near term.
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ICICI Prudential Life has maintained its position above both the 12-week and 26-week exponential moving averages (EMA), further consolidating the bullish trend.
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On the higher end, finding resilience is challenging in uncharted territory, though 22,350-22,500 could be seen as the following potent targets for Nifty in the current week, provided banking participates.
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Dr Lal PathLabs has maintained upward journey for third consecutive session, rising 4.8 percent to Rs 2,223 on Tuesday. In fact, it has given a close above 200-day EMA (exponential moving average - Rs 2,141), which is a positive sign.
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The market reacted negatively to the policy, may be due to increasing possibility for further rate hikes in next policy meeting and lowering the growth forecast
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The Nifty is trading in uncharted territory, so theoretically, the upper side is unlimited.
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"As per the short term chart pattern, we feel the index will make an attempt to reach its resistance of 17,800 followed by 18,115. Our bullish view shall be negated if we see prices sustaining below 17,350 level," said Vidnyan Sawant, AVP - Technical Research at GEPL Capital
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Federal Bank, ICICI Pru Life Insurance, Oberoi Realty among the stocks. With the Sensex and the Nifty reversing losses after the RBI decision, experts say the Nifty’s next stop could be 17,800. Banking and financial services, FMCG, IT, metal and pharma stocks supported the market.
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Hero MotoCorp is trading above its 21, 50 & 100 days exponential moving averages on weekly & daily time frame, which is positive for the prices in the to the mid to long term.
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Angel One is in a strong uptrend as it continues to form higher tops and bottoms across all time frames. On the weekly timeframe, the stock has had multiple resistance breakouts around Rs 1,750-1,800, indicating further strength
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In the current fall, from an investor's point of view, this is certainly an excellent opportunity to bag quality stocks in a staggered manner but for traders, it will be difficult to say that worse is behind, says Sameet Chavan of Angel One
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Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today.
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Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today
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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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The Nifty 50 is expected to range between 18,000 and 18,400 in the F&O expiry week, experts said, and all eyes are on the banking sector.
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While a status quo on rates was expected, the equity market cheered the continuity in the monetary policy stance of the RBI MPC.
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Technical charts suggest that the banking index may outperform in the coming sessions as Bank Nifty has managed to close above the key resistance level of 36,400.
