SUPPORT AND RESISTANCE
Stock Radar: Cholamandalam Finance Holding hits fresh record high in July; time to buy or book profits?
Cholamandalam Financial Holdings stock is poised for remarkable growth, breaking free from a volatility pattern to soar towards the 1700 target. Investor interest surges as bullish momentum indicators align, with a strategic stop loss at 1270 ensuring risk management. The stock's chart structure and ratio analysis against NIFTY only reinforce its upward trajectory.
Tech View: Nifty bulls using intraday dips to go long. Here’s how to trade on Tuesday
Positive chart pattern like higher tops and bottoms is intact. The underlying trend of Nifty remains positive. The market is racing towards the next upside target of 24,400 levels in the near term. Immediate support is placed at 23,980 levels, said Nagaraj Shetti of HDFC Securities.
Tech View: Short covering rally takes Nifty beyond 24K. Here’s how to trade on Friday
The underlying trend of Nifty continues to be positive. A sustainable move above 24000-24100 levels could pull Nifty towards another Fibonacci extension resistance of around 24380-24400 levels in the near term.
Tech View: Nifty forms ‘3 Advancing Soldiers’ pattern. Here’s how to trade on Thursday expiry
Nifty ended Wednesday session 147.5 points higher and formed a new peak at 23,889 level to form a long bull candle on the daily charts.
A break above 23,500 may clear Nifty’s path to 24,000
Technical charts, options data, and India VIX levels suggest possible consolidation for the Nifty within the 23,200-23,600 range this week. If the index anages to close decisively above 23,500, it could move towards 24,000, analysts said. M&M, TVS Motors, Bharti, Indian Hotels, ICICI Lombard, Cipla, JB Chemicals, harmabees, and Hindustan Zinc are some of the stocks recommended by the analysts for trading.
F&O Radar: Deploy Bull Call Spread in JSW Steel to capitalize on potential up-move
From April onwards, JSW Steel prices have consistently formed higher highs, indicating an upward trend. On the downside, the stock has found support around the 830 levels.
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Sudanese RSF paramilitaries clash with the army, leaving at least 100 people dead
At least 100 people were killed and dozens injured after the Rapid Support Forces (RSF) attacked Wad al-Noura village in Sudan's Gezira province on Wednesday. Victims included women, children, and the elderly. The RSF used heavy artillery to besiege the village, displacing residents to other parts of al-Manaqil district. The Sudanese transitional government condemned the attacks and urged international accountability. The RSF and Sudanese army have been in conflict for over a year, causing widespread devastation, with over 14,000 people killed and hundreds of thousands displaced.
Tech View: Profit booking likely at higher levels. Here’s how to trade on Friday
The short-term trend of Nifty remains positive despite high volatility. On moving above the hurdle of 22,250 level recently, Nifty still has chances to move towards the next upper hurdle of 23,200 in the near term.
Nifty Bank pares gains but closes above 49,200; next target seen at 50,000: Experts
Tracking positive global cues, Nifty Bank rose 237 points to close at 49,291. The index saw some profit booking above the 49,600 level. PNB, Bank of Baroda and SBI closed with gains of 1-3%.
Tech View: Nifty forms long bearish candle. Here’s how to trade on Wednesday
Nifty slipped below short-term and medium-term averages. Now, 50-day SMA or 22,400/73,500 and 22,500/74,000 are likely to act as key resistance areas for traders. Nifty has violated the higher-top and higher-bottom formations and suggests change in short-term trend.
How to trade Nifty on election result day? Heads I win, tails you lose strategy
Depending on whether the Prime Minister Narendra Modi-led NDA surpasses or falls short of the expectations outlined by exit polls, the Nifty could experience significant swings in either direction once the trends of the Lok Sabha election results become apparent on Tuesday. The substantial rally of over 3% on Monday, coupled with a 15% decline in the India VIX fear gauge, indicates that market anticipation for a negative surprise has diminished.
Tech View: Will Nifty hit 24,000 on election result day? Here’s how to trade on D-Day
Nifty surged 733 points; analysts foresee a potential crossing of 24,000 if election results favor. Bulls dominate the market, eyeing 23,500 resistance. India VIX down 15%, predicting Modi's re-election.
Tech View: Nifty forms long-legged Doji candle. What should traders do in election result week
On the daily chart, the Nifty has bounced back from close to the 50-day SMA after four sessions of losses. Chartists said that the 14-day RSI at 50.33 is falling and remains below its 9-day EMA, indicating that the momentum is weakening.
Nifty Bank outperforms; short-covering likely on a close above 49,000: Experts
The index had a small tryst with 49K. This was also a crucial resistance level for the index. A close above the same is likely to trigger a short covering move in the index. The index rose 0.4% in the May series and the first 15 days of the June series may remain volatile.
F&O Radar: Deploy Bull Call Ladder on Nifty to benefit from lower-level bounce
Nifty surged to a new all-time high of 23,110 before correcting slightly. With support near 22,500, it's expected to trade in a range of 22,500 to 23,000. Analysts recommend a Bull Call Ladder strategy amid capped upside and potential for bounce from lower levels.
What is NATO chief's proposal for military aid for Ukraine?
NATO foreign ministers will debate a military support package for Ukraine proposed by alliance boss Jens Stoltenberg, due to uncertainty over future U.S. support for Ukraine due to the possible return of former president Donald Trump to the White House. Stoltenberg has proposed putting military aid for Kyiv on a longer-term footing, along with a multi-year financial pledge. NATO's 32 member countries have different views on the plan, and the ministers will seek to narrow those divisions at their meeting in Prague.
Tech View: Dark cloud pattern seen on Nifty charts. What traders should do on Thursday expiry
Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart.
Nifty Bank falls more than 600 points; next big support placed at 48,000: Experts
On Wednesday, the Nifty Bank witnessed a sharp decline of over 600 points, breaching the 49,000 mark, attributed to subdued global signals. Presently, a significant support level is identified at 48,000.
Nifty Bank holds 49000; experts suggest buy-on-dips strategy
Nifty Bank fell on profit booking at higher levels. The index fell 139 points to close at 49,142. Though it opened higher and quickly touched 49,500, the momentum fizzled owing to selling pressure. HDFC Bank, AU Small Finance Bank and Bandhan Bank gained.
Tech View: Nifty stiff resistance around 23,000-100. What traders should do on Tuesday
An analysis of Nifty put options reveals a concentration of Open Interest (OI) at the 22,700 level, implying potential support at this level. On the call side, significant OI concentrations are observed at the 23,200 and 23,500 levels.
Nifty Bank at 3-week high; 50K in sight but it requires to close above 49,600: Experts
On Monday, the Nifty Bank index continued its outperformance, marking its third consecutive day of gains. The banking index surged by 310 points, closing at 49,281. In contrast, the Nifty50 witnessed a slight decline of 24 points, closing below the 23,000 mark.
Tech View: Nifty forms Doji candle. What traders should do next week
Nifty on Friday ended near the flatline after climbing the 23,000-mark for the first time in history. The index formed a Doji candle during the day after Thursday’s big bull candle.
Tech View: Nifty may rally towards 23,500 in short term. What traders should do on Friday
Nifty formed a long bull candle on the daily chart on Thursday weekly expiry. Once it breaches 23,000, the index might move towards 23,500 in the short term. Nifty has broken above 22,750 - 22,800 resistance zone and is eyeing the upper end of the rising channel placed at 23,100 – 23,150
Tech View: Nifty inching closer to record high. What should traders do on Thursday expiry
Nifty closes 69 points higher, forming a bullish candle with strong buying interest. Holding above 22,590, it may reach 22,750, supported by 22,500. Analysts anticipate further uptrend, with key support at 22,500 and resistance at 22,800.
Nifty Bank closes below 48000; crucial support placed at 47750-47500: Experts
On Wednesday, the Nifty Bank index concluded trading below the significant psychological threshold of 48,000, with the next notable support levels positioned between 47,750 and 47,500. The index experienced a decline of 266 points, settling at 47,781, while the Nifty50 registered a 68-point increase, closing at 22,597.
Hamas mourns Raisi death, hails his 'support for Palestinian resistance'
Hamas mourns Iranian President Raisi's death, appreciating his support for Palestinian resistance during Israel-Hamas war. Iran-backed Hamas allies engage in violence across the region, involving clashes with Israel and Hezbollah.
Tech View: Nifty stuck between 22,400-22,600. What should traders do on Wednesday
The index manages to hold above 20 and 50-day SMA — a positive signal. An analysis of Nifty put options reveals a concentration of Open Interest at the 22,400 level, implying potential support at this level. The important key takeaway from the Nifty chart is that it is making a higher high both on the daily and weekly charts.
Nifty Bank holds 48000; important levels to track on Wednesday
Nifty Bank snapped 3-day gains, fell 151 points to close in the red. Bandhan Bank, Bank of Baroda and SBI were among the top gainers from the index. The index held above the 50-DMA on the daily chart. The momentum could take it towards 48,400-48,500 levels.
Tech View: Nifty forms High Wave candle. What should traders do on Saturday
After recouping losses of previous week, Nifty is now targeting to reclaim the lifetime high zone. The short-term trend of Nifty is positive and the next upside levels to be watched are around 22,700-22,800 levels.
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