Support levels are crucial in this corrective phase, and for the Nifty FMCG Index, key support levels are identified at 61,180 and 59,500.
In near term, the Nifty IT Index is expected to trade within a broader range of 42,800 to 41,600. A close above or below this range would likely trigger a decisive move in the respective direction.
The Nifty Bank Index is currently exhibiting a bullish trend on the charts, suggesting a positive outlook for the near term.
The best trading strategy for the Nifty PSU Banks Index would be to adopt a "buy on dips" approach.
The Nifty50 Index is currently showcasing a bullish trend on the charts, indicating strong upward momentum in the near-term.
In such a scenario, traders might look to enter long positions, anticipating further upward momentum as the index pushes through these resistance levels
The anticipated downside targets or support levels for the Nifty Auto Index are 24,300, 23,900, and 23,500
Technical indicators such as MACD (Moving Average Convergence Divergence) and Moving Averages also support the expectation that the index will outperform in the near term
Both the Nifty Financial Services Index and the Nifty PSU Banks Index exhibit positive trends and are supported by strong technical indicators
The Nifty 50 Index is currently displaying a bullish trend on the charts, signaling a positive outlook for the near term. However, it's important to keep an eye on the key levels of 24,625 and 24,800
The Nifty IT Index is currently showing an upward trend on the charts, with the index nearing its weekly resistance levels for this week, which are expected to be between 39,925 and 40,000
The Nifty PSU Banks Index is currently experiencing a downward trend in the near term. However, the index has recently undergone a sharp correction, bringing it very close to critical support levels a
The Nifty Bank Index is currently exhibiting a bearish trend on the charts. Given this downtrend, the recommended trading strategy for the near term is to sell on any upward movement in the index
The Nifty 50 Index is currently trading within a well-defined range, with a resistance level at 24,400 and support at 23,880
The Nifty FMCG Index is demonstrating a bullish trend in the near term, as indicated by its recent upward movements on the charts.
The Nifty Energy Index is currently exhibiting range-bound behavior, fluctuating within the bounds of 43,700 and 42,250
The Nifty IT Index is oscillating between 38,800 and 38,000. This consolidation indicates that the index is at a pivotal juncture, where a breakout or breakdown will determine its near-term direction
The Nifty PSU Banks Index is also showing a downward trend in the near term, with significant support expected at the 6,600 level
The Nifty 50 Index is currently experiencing a downward trend in the near term, as seen on the charts. Despite this short-term decline, the overall trend remains bullish
The Nifty Commodities Index is showing signs of a potential pullback in the near term, making it a suitable candidate for selling on rises.