The market is expected to remain rangebound and attempt to defend the previous day’s low amid elevated VIX levels. Below are some short-term trading ideas to consider.
Stocks to Watch, 28 May: Stocks like Tata Steel, Belrise Industries, HBL Engineering, ITC, Rashtriya Chemicals and Fertilisers, Zuari Industries, Triveni Engineering and Industries, DCX Systems, Procter and Gamble Hygiene and Health Care, ITI, NMDC, JK Lakshmi Cement, and Gateway Distriparks will be in focus on May 28.
The market is expected to be volatile and rangebound in the upcoming sessions, supported by an upward-sloping trendline. Below are some trading ideas for the near term.
Rashtriya Chemicals and Fertilisers Share Price | The share price rose more than 40 percent in last one-year.
The Nifty 50 is expected to consolidate in the coming days, with support at 23,400 and resistance at 23,700. Here are some trading ideas for the near term:
The 23,000 level is expected to play a key role in the Nifty's further direction, and sustaining this level can take the index towards the upper band of the Rising Channel (i.e., 23,100-23,200), followed by 23,500, with support at 22,800.
The overall market structure remains bullish as long as Bank Nifty remains above the 46,300 mark.
Short term consolidation or correction in this index can be ideal opportunity for medium to long term traders to enter into Auto and Auto ancillary space, says Ashish Kyal.