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.
Stocks to Watch, 30 June: Stocks like Torrent Pharmaceuticals, JB Chemicals and Pharmaceuticals, Jyoti CNC Automation, BHEL, Alembic Pharma, Waaree Energies, Prestige Estates Projects, Bharti Airtel, Le Lavoir, Reliance Industries, and Hind Rectifiers will be in focus on June 30.
The benchmark indices may sustain the negative trend, with focus on the outcome of the two-day Federal Reserve policy meeting, which is due on December 18. Below are some trading ideas for the near term.
Stocks like Avenue Supermarts, Hathway Cable and Datacom, Sula Vineyards, Adani Ports and Special Economic Zone, IL&FS Transportation Networks, Tega Industries, JSW Infrastructure, and Indoco Remedies will be in focus on October 14.
Consolidation is expected to continue, with 24,400 as immediate support followed by key support at 24,100 on the Nifty 50, while 24,600-24,700 is the zone to watch out for on the higher side. Here are some trading ideas for the near term.
The market is likely to remain in positive territory amid consolidation in the coming sessions. Here are some trading ideas for the near term.
Ashok Leyland formed long bullish candlestick pattern on the daily charts. The stock has formed Tweezer Bottom kind of candlestick pattern, the bullish reversal pattern, and traded above all key moving averages.
It appears that the Nifty Index is currently in a rangebound trend between 19,234 – 19,645 levels in the short to medium term
A conclusive break above the 19,700 levels on Nifty, especially on a closing basis, would potentially open the path for further upward movement, with an eye towards the 20,000 mark.