Maruti Suzuki Q1 2024 results: Investors will eye margin trajectory amid commodity pressures, elevated discounting.
The Nifty Auto index is currently exhibiting a range-bound trend on the charts, confined within the levels of 25,460 and 24,560
Analysts anticipate robust double-digit revenue growth driven by ongoing volume recovery, particularly in rural areas.
The Nifty IT Index is poised for a correction in the near term, as technical indicators signal an overbought condition
The Nifty IT Index is currently trading at 37,314.35. In the near term, the index appears to be range-bound, with the defined range between 37,525 and 37,050
The Nifty Auto Index is currently trading at 25,267.85. The near-term trend for this index appears to be downward on the charts, with strong support expected around the 24,500 level
The Nifty IT Index is currently trading at 34,023.80, displaying a range-bound pattern in the near term
The Nifty IT Index is currently priced at 33,613.05, indicating a bullish trend in the near term. Given this upward momentum, the best trading strategy for traders would be to buy the index either at
The Nifty Auto Index, currently priced at 22,458.65, is exhibiting a downward trend in the near term as per the charts
Smooth ride expected for the sector in FY25
The Nifty Auto Index, currently trading at 21146.20, is showing signs of short-term underperformance, as indicated by its overbought condition and negative divergence on technical indicators
Nifty Auto: There is a preference for finding opportunities to go short below 20,300, considering the bearish trend observed in the near term on the charts
Given the prevailing market conditions in Nifty IT, the recommended trading strategy is to sell on rallies, with a stop-loss set at 37,100
In the past one year, shares of Tata Motors have been in top gear and have outperformed all stocks that comprise the Nifty Auto index with a rise of nearly 131 per cent during this period, shows data
The identified resistance levels for Nifty Auto are anticipated around 19,350 and 19,550
Adding to the cautionary signals, the RSI in Nifty IT index has recently broken below the 70 mark, reaching a reading of 66.27, said Ravi Nathani
Nifty IT Index is facing significant resistance around the 35,800 mark. The recent correction in the market has initiated a downtrend in near-term, as per Ravi Nathani
As per Ravi Nathani, prevailing indications suggest a higher likelihood of a downward trigger in Nifty Auto given the negative bias in the technical indicators
The optimal trading strategy for risk-tolerant traders involves selling Nifty IT either at the current levels or on upward movements, suggests Ravi Nathani
While demand woes continued to plague the export market, growth was largely on the back of domestic demand