The Indian market recouped losses to close in the black. The S&P BSE Sensex rose over 260 points, while the Nifty50 reclaimed 22,000. Sectorally, buying was seen in telecom, metal, oil & gas, power, and utilities, while selling was seen in banks, realty, and IT stocks. Stocks in focus include names like Hindustan Zinc, which … Read more
The Indian market fell for the third straight day as traders preferred to book profits amid expensive valuations. The S&P BSE Sensex fell nearly 400 points while the Nifty50 managed to hold on to 22,300 levels. “Despite positive global cues, the domestic market continued to consolidate. The domestic market is witnessing profit booking due to … Read more
Mumbai: Gift Nifty futures saw a significant increase in volumes at the NSE International Exchange (NSE IX) in Gujarat over the last four months, reaching a record turnover of $82 billion in April. This marked a 25% increase compared to December turnover, contrasting with a 7% growth in Nifty futures turnover on the NSE during … Read more
Technical indicators, declining volatility, and a stable Put-Call Ratio imply a consolidation phase in the market, according to analysts. They suggest that if the Nifty maintains levels above 22,222, a new upward movement could drive it towards 22,775. Stocks like Escorts, Ashok Leyland, BHEL, Canara Bank, Coal India, IRCTC, Dixon, Exide Industries, Havells, and IDFC … Read more
Most technical indicators suggest a short-term bottom reversal for Indian indices. Analysts expect the Nifty to trend higher as follow-up buying may emerge above 22,180, with short positions potentially being challenged above 22,425. Reliance Industries, SBI, Hindalco, Eicher Motors, Maruti, HAL, and M&M, along with midcaps like Jindal Steel and Power, Delivery, Bharat Dynamics, Lemon … Read more
Technical charts indicate a continuation of the positive trend going ahead, with the India VIX currently trading below 12. Any market dip presents a buying opportunity, as technical analysts predict Nifty will move towards the 22,800-23,000 levels soon. Stocks such as Vedanta, Hindalco, JSW Steel, City Union Bank, Canara Bank, HDFC Bank, ABB, ITC, HUL, … Read more
Reliance Industries Ltd, part of the oil & gas space, consolidated in a narrow range after hitting a record high earlier in March 2023, but a bounce back from its 50-DMA on daily charts suggests that bulls are here to stay. If the momentum continues, short-term traders can look to buy the stock for a … Read more
Gujarat Pipavav Port Ltd (GPPL), part of the port services, rallied by about 30% in the last 3 months to hit a fresh record high earlier in March 2024 and the chart pattern suggests that the rally may not be over yet. Short-term traders can look to buy the stock now for a possible target … Read more
Asian Paints Ltd, part of the paint sector, has remained range-bound despite benchmark indices trading fresh record highs in the short to medium term. The paint stock has fallen in double digits in the last 3 months, but the price action suggests that it is forming a base around 2700 levels on weekly charts. Short-term … Read more
Most technical charts indicate a weak trend for Nifty in the short term. A decisive move below 21,900 could trigger significant weakness, potentially for the next support levels of 21,500-21,400, as suggested by technical analysts. Stocks recommended by them include BEL, JK Cement, ITC, AU Bank, and Kotak Bank, while those with a negative bias … Read more
