Driven by domestic inflows and renewed optimism about a potential Fed rate cut in the September meeting, the market has demonstrated a broad-based recovery and reached new highs. Benchmark indices Nifty and Sensex maintained their momentum, closing at record highs on Friday. This marked Nifty’s best week in two months, extending its winning streak to … Read more
Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
The Nifty opened with a gap down on Friday after reaching a new all-time high in the previous session and experienced weak price action throughout the day, closing down by 293 points. Meanwhile, the Bank Nifty has been underperforming and may continue to do so. On Friday, the Nifty closed lower by 1.2% at 24,717.70, … Read more
Nifty has crossed the historic milestone of 25,000 on the first day of August, and to add to the bullish sentiment, its track record of the full month over the last 10 years shows positive closing on six occasions. Moreover, foreign institutional investors (FIIs) and domestic institutional investors (DIIs) have been net buyers on seven … Read more
Nifty is stuck in a narrow range between 23300-23500, and a break on either side will lead to trending moves, says Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. “The underperformance of BankNifty is preventing Nifty from moving higher; for Nifty to break on the higher side, BankNifty must start performing. The undertone … Read more
With the ongoing buzz around the Lok Sabha election results, markets are still witnessing strong volatility. India vix stood above 21 as of May 24. However, the week ended in green, with Nifty and Sensex only rising each day while closing near their all-time high zones. With a progressive movement and the indices constantly achieving … Read more
Nifty on Tuesday ended 125 points lower to form a bearish candle on the daily chart as it recorded losses for the third straight session. The short-term trend remains weak. But, having placed near the cluster support of around 22,000 levels, one may expect an upside bounce from the lows in coming sessions. Immediate resistance … Read more
Nifty Bank, which hit a fresh lifetime high above 49,000 last week, has given an average return of 5% during the March quarter earnings season 7 out of 10 times in the last 10 years, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat with James on the market outlook … Read more
Nifty on Friday ended 234 points lower to form a Doji candle on the weekly scale. On the daily charts, the index closed below the lows of the previous 3 trading sessions which indicates weakness. The index is in the process of retracing the rise it has witnessed from 22,710–22,776. The next crucial support level … Read more
Nifty on Wednesday formed a high wave type candle on the daily chart as it ended the session 111 points higher. Nifty is currently placed at the hurdle of around 22,800 levels (ascending resistance trend line and 1.618% Fibonacci extension). Though Nifty placed near the hurdle, still there is no sign of any reversal forming … Read more
