Nifty managed to defend the 23,500 level on a closing basis for another session, indicating good support in the immediate term. The index closed 37 points higher at 23,538 after showing a healthy recovery from the day's low on June 24. Experts see the index moving towards its record high of 23,677 if it holds the 22,400-22,300 levels amid consolidation in the coming sessions. The GIFT Nifty is signalling a positive start for the Indian market today despite mixed cues from Wall Street. Nasdaq saw a selloff led by a near 7% slump in shares of AI darling Nvidia. Borosil, Craftsman Automation, Shalby Hospital will be among the stocks in focus today. Catch Nandita Khemka in conversation with Milan Vaishnav, Founder & Technical Analyst, ChartWizard FZE and Nirav Karkera, Head of Research, Fisdom.
Here are top 10 trading ideas by experts for February series, which could return up to 37 percent
Markets entered the new year on a bullish note. Benchmarks gained 2.5% in the week ending January 7 led by banking and financials. Here are the top 10 trading ideas recommended by experts as bulls continue to rule the market.
Technical experts are of the view that the index is stuck in a range of 400-500 points, where 15,900-16,000 are acting as a stiff resistance and 15,450-15,500 as the crucial support. If a breakout takes place in the northward direction, we may not see any bigger move. If it is downwards, brace yourself for tougher times, the say.
Indian shares ricocheted off lows today following a six-day losing streak but analysts are not sure, yet, whether the jump could be anything more than what they call a 'dead cat bounce'.
With the market falling again after a savage fall yesterday, CNBC-TV18‘s Nigel D‘Souza and Sumaira Abidi spoke to veteran broker Jagdish Malkani to get his views on the market. “The bull market is not going to go away in a hurry,†he said. “8,500 should be a very big support level.â€
The Union Budget that Finance Minister Arun Jaitley presented may be a market neutral event and the ongoing rally would likely continue on hopes that a structural upturn in the economy is a few quarters away, CNBC-TV18 consulting editor Udayan Mukherjee says.
Sudarshan Sukhani recommended a ‘bull call‘ options strategy for the March series, which can be constructed by buying the 8800 Nifty call and selling 9200 call.
The swiftness of the recent market rally has taken most analysts by surprise but instead of trying to predict whether the bull run will continue or there is a crash ahead, they now agree it has some more room to go before a clear direction could emerge.
In an interaction with CNBC-TV18, Sudarshan Sukhani of s2analytics.com said high-beta stocks will continue to find favour.
The sense of choppiness in the market continues and traders should avoid taking positions on any of the leading indices, including the most popular sector index, Bank Nifty, according to Sudarshan Sukhani of s2analytics.com.