Markets experienced a breather after the recent decline, gaining over a percent, driven by strong global cues.
Market reactions to the US Fed meeting outcome will be evident in early trades on Thursday. Indications suggest that the current market tone will persist.
The markets traded lackluster and ended slightly lower, continuing the ongoing consolidation phase. After a flat start, the Nifty fluctuated within a narrow range, eventually closing at 24,413.50.
Markets fluctuated sharply within a range and ended up losing nearly half a percent, wiping out the gains from Tuesday's session
Pharma index has rebounded from the key support zone and LUPIN is offering fresh buying opportunity with favorable risk to reward
Markets edged higher as expected, gaining over half a percent. After a flat start, the Nifty gradually climbed throughout the session and closed near the day's high at 23,868.80
Banking stocks are witnessing decent traction and IDFC First Bank has witnessed a fresh breakout. It had been trading in a corrective phase for over 8 months
Pharma sector has witnessed a fresh breakout from the consolidation to record high levels and Sun Pharma is offering a fresh buying opportunity
Defensives are seeing strong activity, with pharma also performing well. Cipla, in particular, has achieved a fresh breakout from its consolidation range, reaching a new high
Muthoot Finance has been in a steady uptrend for over 10 months, consistently forming higher highs and lows with a gradual increase in volumes
Ajit Mishra, SVP-Research of Religare Broking expects the Nifty to face resistance in the 22,300 - 22,400 range.
Nifty50 outlook: On the downside, the 21,850-22,150 zone is anticipated to provide support. Traders are advised to maintain caution
The technical analyst from Religare Broking recommends to buy and accumulate these stocks in the given range
We're seeing noticeable traction in the auto space and Hero Moto is also finally resuming the uptrend, Mishra said
Coromandel International, HDFC Life Insurance Company and SAIL are the stocks that the technical analyst from Religare Broking is bullish on
The Religare Broking analyst also recommends buying Apollo Tyres
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
Info Edge (Naukri) has finally witnessed a breakout from a broader consolidation range of Rs 4,200-5,600 after spending nearly eight months there
Tata Motors has formed a fresh shorting pivot and is likely to resume the corrective phase.
Bharti Airtel has been trading in the consolidation range for the last two months after retesting the major support zone around Rs 520 levels