“Asian markets are also supporting. So, I do not find any logic or rationale behind going short here. The trend is clearly into uptrend. Right now, after rising for last three consecutive sessions, it is just a profit booking in intraday. I see a strong uptrend in the market,” says Vinay Rajani, HDFC Securities.It is … Read more
Following Friday’s sharp rally amid FTSE rebalancing, traders must brace for large moves in both Nifty and Nifty Bank in the monthly expiry week, says Anand James, Chief Market Strategist, Geojit Financial Services. RVNL and Mahindra Logistics are his two stock ideas for the week. Edited excerpts from a chat: Friday’s session changed the trajectory … Read more
The Nifty formed a long bull candle, which indicates a decisive upside breakout of the range movement witnessed in the last 4-5 sessions. The Nifty has broken above the range as well as the trend line resistance around 25,500 levels. A long bull candle was formed on the daily chart. The short-term trend of Nifty … Read more
After showing a narrow range movement in the last four sessions, Nifty made a failed attempt at a decisive upside breakout of the range on Thursday and closed the day with minor gains of 38 points, after opening with an upside gap of 110 points and registering a new all-time high of 25,611. A small … Read more
The Nifty formed a small negative candle on the daily chart experiencing some profit booking ahead of the anticipated FOMC rate cut decision, which seems to be priced in a 25-bps cut. The short-term trend of Nifty remains positive with range-bound action. Any dips down to the support of 25,200-25,100 is expected to be a … Read more
The Nifty formed a small negative candle on the daily chart as consolidation movement continued in the market for the second consecutive session on Monday. The index closed the day with minor gains of 27 points. The Nifty50 index touched the 25,446 mark before closing at 25,384, up by 28 points or 0.11%. Meanwhile, the … Read more
Equity indices Sensex and Nifty took a breather on Friday after a record rally in the previous session and ended marginally lower on the emergence of profit-taking. Stocks that were in focus include names like Bharti Hexacom, which rose 5.2%, Jubilant Pharmova, which gained 12%, and Westlife, whose shares jumped 6% on Friday. Here’s what … Read more
Indian benchmark indices ended Friday in the red witnessing a range-bound trade throughout the day. While the S&P BSE Sensex settled at 82,890.94, down by 72 or 0.09%, the broader Nifty50 closed at 25,356.50, lower by 32.40 or 0.13%. Nifty fizzled out and closed with a minor loss and barring oil & gas, FMCG and … Read more
“There are several stocks which are not really in your comfort zone and hence we need to pick up stocks on a bottom-up basis and need to cherry-pick ideas wherein the risk-reward is favourable. Otherwise, it is a tough market as far as stock selection is concerned,” says Pawan Parakh, Geojit Financial Services. What a … Read more
The Nifty formed a small positive candle with minor upper and lower shadows. Technically, this pattern indicates the formation of Doji-type candle, which is not a classical one. Normally, such a Doji pattern at the hurdle indicates caution for bulls. “The short-term trend of the Nifty seems to have reversed up and the Nifty is … Read more
