TECHNICAL
Nifty gains continue amid narrowing trading range and low volatility
The markets continued with their unabated upmove in the week that went by and ended once again with net gains. While continuing with the advance the Nifty 50 Index extended its move higher. However, as compared to the previous week, this time, the trading range got narrower as the Index oscillated 408.30 points against 824 points.
Tech View: Nifty bulls strong till 24,200. Here’s how to trade next week
With the underlying trend of Nifty being positive, possibility of an upside breakout around 24,400-24,500 levels in next few sessions looks plausible. Analysts see immediate support at the 24,170 level.
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More mid-caps join the party as momentum favour bulls.
Markets on bullback, no pullback from 80,000 milestone
Sensex hit 80,000, led by TCS, Infosys, and banks like Kotak Mahindra. Nifty reached 24,302.15, driven by pre-budget CapEx expectations. Markets show bull indications, driven by private banks and tech. Confidence from policy consistency, expected social welfare spending, and strong investor sentiment; budget is likely in July.
Ahead of Market: 10 things that will decide D-Street action on Friday
While the Nifty's overall trend appears positive across different time frames, it is currently facing resistance around the 24,400 level, which coincides with a 1.618% Fibonacci Extension. This suggests the possibility of a temporary consolidation or minor dip in the upcoming trading sessions before the index potentially resumes its upward movement.
Technical Breakout Stocks: How to trade Cochin Shipyard, Bajaj Holdings and Mazagon Dock on Friday?
The Indian market closed in the green for the second day in a row on Thursday. The S&P BSE Sensex hit a fresh record high of 80,392 while the Nifty50 touched a lifetime high of 24,401.
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Traders’ Corner: An agro commodity stock for possible 7% long trade; multiproduct bet for 6% swing trade
More sectors are joining the bullish movement of broader markets
Tech View: Nifty traders await breakout on either side. Here’s how to trade on Friday
The overall trend of Nifty remains positive as per smaller to larger time frame chart. Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip extending for the coming sessions. Immediate support is at 10 day-EMA at 23,990, said Nagaraj Shetti of HDFC Securities.
Stock Radar: This sugar stock is showing signs of bottoming out after 24% fall from highs; time to buy?
Dalmia Bharat's stock stabilizes as experts recommend a bullish outlook, targeting above Rs 2,100 in the volatile sugar industry. The company's price movements reflect a harmonic pattern signaling potential reversals.
Momentum Pick: Will Zomato's 21% returns over a month and technical breakouts trigger another leg of rally?
Zomato shares surged 21% since June 4, outperforming the Sensex's 11% rise. Analysts predict up to 20% additional gains. The stock hit a 52-week high of Rs 213.80, closing at Rs 208.15. Momentum indicators show shares trading above 50 and 200-day SMAs with a 1-year beta at 0.6. Axis Securities noted sustained buying activity and net profit.
Technical Breakout Stocks: How to trade HDFC Bank, Glenmark Life and Federal Bank on Thursday?
Indian market hit fresh record highs on Wednesday tracking positive global cues. The S&P BSE Sensex hit a fresh record high above 80,000 for the first time while the Nifty50 climbed above 24300 levels. The Nifty50 rose 162 points to close at 24286 while the S&P BSE Sensex closed with gains of 545 points at 79,986.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Benchmark BSE Sensex breached the historic 80,000 level intraday for the first time while Nifty raced more than 162 points to close at a fresh lifetime high on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends. Bulls have regained control from bears. This shift in sentiment has once again favored long trades in the market.
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 needs a decisive move above 24,400. Here’s how to trade on Thursday
Nifty ended Wednesday’s session with a gain of 163 points to form a small negative candle but broke out of a sideways consolidation movement on the daily chart ahead of Thursday’s expiry.
TRADERS’ CORNER: A luggage stock ready for 7% upmove & a rating agency for positional 6% trade
Mid cap and small cap stocks getting back momentum .
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The Nifty's upward trajectory persists, with any potential dips or consolidation presenting buying opportunities, according to the prevailing bullish pattern.
Technical Breakout Stocks: Here’s how to trade JK Paper, Solar Industries and Godrej Agrovet on Wednesday
The Indian stock market failed to hold the momentum and closed marginally in the red on Tuesday as traders preferred to book profits at higher levels.
Tech View: Nifty bulls getting tired at peaks. Here’s how to trade on Wednesday
Nifty ended Tuesday’s session with a small loss of 18 points to form a small red candle on the daily chart which indicated that bulls are getting tired at peaks.
Stock Radar: Hindustan Unilever could hit fresh record high in July series; here’s why
Hindustan Unilever is poised for growth, supported by strong technical indicators and positive derivatives data. With potential for fresh highs, the stock is showing resilience after a short correction and is expected to perform well in the July series.
TRADERS’ CORNER: Auto ancillary focussed on EV trying to jump 5% and mid cap software stocks for 7% rise
The markets had a trending start to the fresh week; after a muted start, the Nifty went on to close near its high point of the day. Following a flat start, the Nifty 50 index formed the low point of the day in the early minutes of the session. After that, the Index kept inching higher throughout the session. Although the markets did come off slightly from their high point, they were able to protect the bulk of their gains. The headline index closed with a net gain of 131.35 points (0.55%)
Technical Breakout Stocks: How to trade Home First, Mahanagar Gas and Emami on Tuesday
Indian market bounced back on Monday after closing in red in the previous trading session. The S&P BSE Sensex rose more than 400 points while the Nifty50 closed above 24100 levels.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty continues its upward trajectory, displaying positive chart patterns with higher tops and bottoms. According to Nagaraj Shetti of HDFC Securities, the market's bullish momentum could propel it towards the 24,400 mark in the near term, with immediate support at 23,980 levels.
Trader's Corner: Midcap scripts 8% rise as IT services stock aims at 7% gain
Momentum moving to many other sectors and stocks
PSBs clock higher failure rates for UPI payments
In comparison, private players like HDFC Bank, Axis Bank, ICICI Bank, Yes Bank and IDFC First have an average UPI technical decline of 0.04%. Among private players, Bandhan Bank has seen technical declines of over 1%.
Technical Breakout Stocks: How to trade RIL, Bharti Airtel, and Bombay Burmah today
The Indian market snapped a 4-day winning streak to close in the red on Friday. The S&P BSE Sensex fell by more than 200 points, while the Nifty50 managed to hold above 24,000.
Ahead of Market: 10 things that will decide D-Street action on Monday
Having moved up sharply Nifty is currently facing hurdles at the resistance of 24,000-24,100 levels. Any dip from here is likely to be a buying opportunity. Immediate support is at 23,800 levels, said Nagaraj Shetti of HDFC Securities.
Will Nifty give up 24,000 or make new highs this week? 7 factors to decide
Looking ahead, market focus will shift to upcoming releases including US and Indian manufacturing Purchasing Managers' Index (PMI) data, alongside a pivotal speech from the Federal Reserve Chair. Meanwhile, attention within India remains fixed on the progress of the monsoon season, with the India Meteorological Department confirming its onset in Delhi and other parts of North India.
Technical Breakout Stocks: How to trade CESC, Raymond and Mazagon Dock Shipbuilders on Thursday
The Indian market hit fresh record highs on Wednesday tracking positive global cues. The S&P BSE Sensex hit a record high of 78,759 while the Nifty50 hit a high of 23,889 in trade on Wednesday.
Technical Breakout Stocks: How to trade Raymond, Zensar Technologies and Granules India?
Indian markets pared gains and closed lower on Friday as traders preferred to book profits at higher levels. The Nifty50 snapped 6-day of gains to close in the red on Friday while the S&P BSE Sensex fell more than 260 points.
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