According to Ravi Nathani, an independent technical analyst, the Nifty IT index is seen oscillating between 37,930 and 36,136 trading range.
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is seen consolidating in the 35,300 - 34,400 trading range.
As talks of an impending market correction grow louder, here's a quick chart check on the Nifty 50 and key sectoral indices.
The recommended strategy in Nifty Auto index is to initiate sell positions at the prevailing market price or during upward movements
According to Ravi Nathani, an independent technical analyst, the Nifty Auto index is likely to exihibit bullish trend as it hovers in uncharted territory.
According to Ravi Nathani, an independent technical analyst, the 32,649 level is anticipated to act as a stiff resistance for the Nifty IT index.
Chokkalingam said buying in healthcare and consumer services is a hedging strategy by FPIs ahead of the state election results
According to Ravi Nathani, an independent technical analyst, stiff resistance for the Nifty Pharma index is anticipated at 15,600 level.
The Nifty Auto index is exhibiting a bullish trajectory, and can be bought with a stop at 16,436, sugges3ts Ravi Nathani, an independent technical analyst.
The RBI said the near-term inflation outlook is expected to improve on the back of vegetable price correction and the recent reduction in LPG prices
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index seems trapped in the 26,975 - 27,350 trading range.
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma and Auto indices are at critical junctures, hence one needs to watch out for these key levels for planing trades.
While the Nifty Realty index is expected to pullback in the near-term, the Nifty Auto index seems to be trapped in a consolidation range, says Ravi Nathani, an independent technical analyst.
At current levels, charts suggest booking profits or even consider short-selling in Nifty Auto index. Support levels on the charts are expected around 13,900 and 13,500
Selective automobile stocks may soar up to 15%, show charts
The Nifty Auto index is expected to underperform in the near future, and the current rally provides an opportune moment to sell the index and its constituents
It is recommended that traders adopt a cautious approach while trading in Nifty FMCG index, given the overextended market conditions and the likelihood of a correction in the near term, said analyst
At the bourses, shares of Hero MotoCorp have declined over 8 per cent so far this calendar year (CY23), as against 0.8 per cent rise in the S&P BSE Sensex
Bajaj Auto Q4 preview: Analysts estimate flat input cost assumption, and lower operating leverage will weigh on EBITDA and EBITDA margins in Q4FY23
According to the technical analyst, charts suggest rapid technical bounce for the Nifty Auto index, wherein traders can anticipate a price recovery