The Nifty Metal index is likely to oscillate between the levels of 6675 and 6580; a pullback should be awaited in Pharma index, says Ravi Nathani
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index has near support at 51,750, below which the index can slide to 50,990.
Meanwhile, the Nifty FMCG index is expected to consolidate in the range of 53,971 and 52,484, says Ravi Nathani, an independent technical analyst.
Ravi Nathani, independent market analyst shares his trading strategies for Nifty Metal and Nifty Pharma indices; check out
According to Ravi Nathani, an independent technical analyst, the outlook for Nifty Metal, Energy and Pharma indices is bullish and hence recommends to buy at CMP or on dips.
According to Ravi Nathani, an independent technical analyst, the bias for Nifty Metal Index is likely to remain bullish as long as it holds above 5,910.
Nifty FMCG is in the overbought zone, indicating that it is expected to trade sideways or experience a timewise or a pricewise correction, says Ravi Nathani
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
According to Ravi Nathani, an independent technical analyst, in case the Nifty Metal index closes below 5,625 it could weaken further.
According to Ravi Nathani, an independent technical analysts, the Nifty Metal Index is exhibiting a range-bound trade, whereas the FMCG index presents a 'Sell on rise' opportunity.
According to the technical analyst, charts suggest range-bound pattern for Nifty FMCG, Nifty Metal, and Nifty Auto indices in the near-term
As per the technical analyst, the best trading strategy for traders would be to buy Nifty IT either at the current market price or at dips, with a target of 31,500
The best trading strategy Nifty Auto index would be to sell near resistance levels until we get close above new high
Amid weakening consumer confidence and flaring inflation, analysts say that the corporate earnings this quarter will be a mixed bag, with select pockets like banks being the frontrunners.
Fall comes on the back of the govt's decision to impose export duty on steel in a bid to cool off domestic prices
Russia is a major producer of industrial metals such as aluminium and nickel
Russia produces about 6 per cent of the world's aluminium and accounts for about 7 per cent of global nickel mine supplies
Nifty Metal shines; Hindustan Copper gains 6%; Godrej Properties, Monte Carlo Fashions slump 10% each; Vedant Fashions IPO subscribed only 11% on day 1
Nifty Metal index tumbled 6.6 per cent to 2,134, while Nifty Media index slipped 5.5 per cent to 1,518, and Nifty Auto was down 4 per cent to 6,662, as against a 3.9 per cent decline in the Nifty50
Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.