Consolidation is expected to continue in the upcoming sessions until the frontline indices trade above their short-term moving averages. Below are some short-term trading ideas to consider.
Technical signals suggest that downside momentum may be gaining strength in Nifty 50, said Sudeep Shah of SBI Securities.
The market is expected to see further consolidation with a negative bias in the upcoming sessions. Below are some short-term trading ideas to consider.
Given the favourable technical indicators, the uptrend is likely to continue in the upcoming sessions. Below are some short-term trading ideas to consider.
Given the confluence of support levels from the 200DEMA and the Bullish Crab pattern, National Aluminium is poised for a potential bullish resurgence.
Overall, the market is likely to remain positive as long as it sustains above all key moving averages. Below are some trading ideas for the near term.
According to experts, the Nifty 50 is likely to inch towards 24,800 as long as it holds the 24,650 level on a closing basis in the coming sessions. However, 24,500 is expected to be an immediate support zone. Here are some trading ideas for the near term.
Holding 22,460 could propel the Nifty 50 to the 22,800-23,000 zone, while failure could lead it down to the 22,300-22,200 levels.
The immediate support for the Nifty 50 is likely to be seen at 22,400, followed by 22,300. In case of a bounce back, the 22,600-22,700 levels are the immediate ones to watch.
Overall, the Nifty 50 will remain in a consolidation mode as long as it stays below 22,100 mark, experts said, adding the index is likely to take support at 21,500 level.
A bullish reversal stokes hopes for further rise in the Nifty50 and, if it comes true, then 19,800-20,000 can be a possibility in the coming days, with immediate support at 19,600-19,500 and crucial support at the 19,300 levels, experts said