The index has formed a Hammer candlestick pattern on the weekly charts which indicates a bullish bias and is likely to test the neckline of 11,100-11,150 zone.
Rollovers throw up a number of data points which analysts decode for near term trends.One of the most tracked data is the percentage of future contracts rolled over to the new month
A good trading strategy goes through various processes â€“ creation, testing and use. Creation is the creative part and the only part which requires mental work, the other two are laborious and mechanical in nature.
Indian equity markets may fall in early trade Monday, tracking weakness in Asian shares, mainly Japan (down 3.6 percent), as a stronger yen weighed on sentiment.
In an interview with CNBC-TV18, market analyst SP Tulsian spoke about his outlook on the stock market and discussed stock and sector strategies.
The Nifty today bounced back strongly today, rising 116 points, crossing a key resistance zone of 7,550-7,600.
A 25 basis point cut has been priced in by markets, and may even send the Nifty into a minor correction towards the lower end of its emerging 7,500-7,800 range, says Udayan Mukherjee, Consulting Editor of CNBC-TV18.
Indian shares are likely to start marginally in the green, as risk-on sentiment continues to pervade following dovish comments day before from US Fed Chair Janet Yellen.
In an interview with CNBC-TV18, Nilesh Shah of Kotak AMC outlined his view on the markets and various sectors.
The bounceback in Indian shares has taken a lot of market watchers by surprise and market analyst Ambareesh Baliga says the market may be headed further higher.
The government's focus on the roads sector is likely to pay off rich dividends for companies that are into road constructions, says Mayuresh Joshi of Angel Broking.
From an intra-day low of nearly 22,500 on Budget day, the Sensex has risen to about 24,600 in a three-day rally, but much of the bounceback rally has likely petered out, says CNBC-TV18 Consulting Editor Udayan Mukherjee.
Indian shares are likely to start off on a weak note, following a sell-off in Asian equities, as investors fretted over rising geopolitical tensions in West Asia and macro data in China.
Even as the market appears to have settled in a range, it is likely to continue in the absence of any major cues that could help it on either side, says Lancelot D'Cunha of CREST Wealth Management.
Nipun Mehta of Blue Ocean said he would was positive on the financial space, going into 2016, with his pecking order being: NBFCs (within them, housing finance companies), private sector banks and then public sector banks.
Indian equities are likely to fare better next year compared to 2015, when a mix of factors such as lack of earnings pick-up, commodity slump and an long-pending Federal Reserve rate hike weighed on sentiment, believes market expert Jyotivardhan Jaipuria.
Indian shares will likely be off to a flat start following mixed trade in Asia, and after Wall Street closed marginally higher overnight.
Indian indices are expected to start with a negative bias, following weakness in overnight US and Asian markets this morning, as the after-effects of oil's Monday sell-off continued to linger and traders stayed cautious ahead of Federal Reserve's crucial rate-setting meeting next week.
CNBC-TV18 turned to guidance from experts SP Tulsian, Sudip Bandyopadhyay of Destimoney and Deepak Shenoy of Capital Mind to look for stock and sector trading and investing ideas.
The market bounce-back seen in the early part of the October series gave way to a consolidation in the latter part and Angel Broking's derivatives specialist Siddharth Bhamre believes the trend has turned lower going into November.
After hitting a high of 8,320 a few days back, the market appears to have entered the consolidation zone, closing in the red for the third consecutive day today.
Dr CK Narayan of Growth Avenues, along with SP Tulsian of sptulsian.com and Jigar Shah of Kim Eng Securities outlined stock and sector ideas that they believe offer opportunities for traders.
Stating that the ongoing market rally has more to it than a mere gush of liquidity, Motilal Oswal Asset Management's Taher Badshah said a number of fundamental factors have also been behind the recent bounceback in the Nifty.
Indian shares are likely to track gains in Asian markets, and from Europe and US yesterday, after European Central Bank chief Mario Draghi held key rates and hinted at a fresh stimulus package.
The 8 percent rally in the Indian stock market since its recent September 7 low has removed some of the "dislocations" that previously existed, says Sanjeev Prasad of Kotak Institutional Equities.