Nifty Today, January 29, 2025:
After two consecutive days of decline, Nifty experienced a relief rally on Tuesday, gaining 128 points, or 0.56 per cent, to close at 22,957.
Support for the Nifty index is placed at 22,786, while immediate resistance is seen at 23,137 followed by 23,347. India stock markets are precariously poised before an important event of Union Budget 2025 on February 1, 2025.
Stocks to Buy Today:
Buy DLF | CMP: Rs 728 | Target: Rs 780 | Stop-loss: Rs 691
RSI's Positive Divergence has been observed on the daily chart. Besides, DLF share price formed an Inverted hammer candlestick pattern on January 27, 2025. Rate Sensitive sectors have started outperforming. DLF share has surpassed 5-day EMA resistance.
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Disclaimer: Vinay Rajani is CMT, senior technical and derivative analyst at HDFC securities. Views expressed are his own.