“So, obviously, Sun will be my top of the priority in the Nifty universe as well and I would also look at Lupin, the numbers were in line with what we were estimating. So, I think post Sun, Lupin would be my preferred bet,” says Rahul Shah, MOSL.What is your view on the pharma? I … Read more
Nifty ended Friday’s session with a gain of 250.50 points but well below the 24,400-mark and formed a Hammer candle on the weekly chart. On the daily charts we can observe that the Nifty has witnessed a fall from 25,100 – 23,900 and is now in the process of retracing that fall. It can rally … Read more
FMCG and pharma stocks have rallied by up to 23% over the last month, demonstrating their reputation as defensive bets. In contrast, the Nifty50 index has slipped into the red amid high volatility, with the India VIX rising over 27% during the same period. At the index level, Nifty FMCG and Nifty Pharma have returned … Read more
Nifty ended Thursday expiry session 180.5 points lower to form a bearish candle on the daily chart. The double top formation on intraday charts indicates further weakness from current levels, say analysts. Nifty has taken support at its 50-DEMA but finding sustained supply near 24,350 zone. Now it requires a decisive range breakout above 24,350 … Read more
Nifty ended 305 points on Wednesday with the index making an indecisive candlestick pattern on the daily chart as traders await the RBI policy announcement on Thursday, coinciding with the weekly expiry of Nifty derivatives. The index has been taking support near 24,000 levels and maintaining the 50-DEMA support despite turbulence, resulting in a relief … Read more
Nifty ended Monday’s session with a loss of 662 points to form a long bear candle on the daily chart and end below its 20-DMA. The index also indicated that the recent all-time high of 25,078 of 1st August could be considered as an important top reversal pattern. The short-term trend of Nifty is sharply … Read more
We believe there might be both time and price-wise correction in the days to come. As we have previously seen, DIIs are buying at every dip in the market, so the downside may be limited, said Dr Ravi Singh, Senior Vice President, Retail Research at Religare Broking. This analyst spells-out strategy in previous week’s major … 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 on Friday ended 293 points lower to form a reasonable negative candle on the daily chart, indicating a short-term top reversal pattern for the index at the new high of 25,078 level. The short-term trend of Nifty is down, but the near-term uptrend status of the market is intact. There is a possibility of … 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
