Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty slipped from its recent consolidation on the daily chart, indicating growing pessimism in the market. The index has been holding below key short-term moving averages, specifically the 21-EMA and 50-EMA, further weakening sentiment. The daily RSI is declining, accompanied by a bearish crossover. In the short term, the index may move towards the 23,600–23,650 range, while resistance...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The 24,000 level is expected to serve as strong support for the index. If it holds above this level, Nifty bulls may still have an opportunity to regain momentum. However, a break below 24,000 could further weaken the market. The RSI indicator remains in a positive crossover, indicating that short-term momentum is likely to stay strong. In the near term, the index may recover toward 24,500, but a...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty slipped sharply as the index failed to move beyond the 21 EMA, leading to significant profit booking in the market. On the daily chart, a bearish engulfing pattern has formed, indicating weak market sentiment. This sentiment may worsen if the Nifty decisively sustains below 24,200. On the higher end, the 24,500-24,550 range may act as resistance."
Above views are of ...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty has corrected below 24,000 as the index slipped from its recent consolidation pattern. Sentiment will likely remain weak in the short term or until it decisively moves above 24,100. It might extend its correction towards 23,650 and lower on the lower end. On the other hand, a decisive move above 24,100 could trigger a rally towards 24,500."
Above views are of the ...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty index remained volatile before closing on a negative note. On the hourly chart, it encountered resistance around the 50 EMA, leading to a pullback toward 24,200. Sentiment may continue to remain weak as long as Nifty stays below 24,500, with any rise toward this level likely facing selling pressure. On the downside, support is placed at 24,000, while resistance levels are seen at 24,500...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"Nifty remained volatile throughout the day as traders were uncertain about the market direction. On the higher end, it found resistance at the 50EMA on the daily timeframe. Additionally, the index failed to move beyond 25000, which led to selling pressure that pushed it down to 24700. If Nifty falls below 24700, the selling pressure may intensify. However, if it holds above 24700, a smart recover...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty has moved up sharply after forming a panic bottom around 24,570, failing to sustain below 24,700. On the hourly chart, a positive divergence is visible on the RSI (14), indicating a shift toward positive price momentum. Immediate resistance is seen at 24,900, which previously acted as support. A decisive move above 24,900 could induce a short-term rally. The trend is likely to remain st...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty has found initial support in the 24,700–24,750 zone. On the daily chart, the Nifty has broken down from a bearish flag pattern, suggesting a possible downward move in the short term. The RSI is showing a bearish crossover and is declining. However, this may not be the ideal level to initiate short positions, as the index has experienced a steep correction and is near a double-bott...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty remained volatile throughout the day but sustained above the 21 EMA on the daily timeframe. A fall below this level could increase weakness, with the possibility of Nifty dropping below 24,900. If Nifty falls below 24,900, it may trigger a further correction towards 24,700. On the higher side, resistance is seen at 25,200."
Above views are of the author and not of...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty formed a bullish harami pattern on the daily timeframe, indicating rising optimism. Additionally, the index has moved above a critical moving average on the hourly timeframe. The RSI has made a bullish crossover in the shorter timeframe, further supporting the positive outlook. In the near term, the index may move towards the 25,350–25,400 range. On the downside, support is placed...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty slipped sharply following a brief pause in the previous trading session, breaking below its recent consolidation. This decline was accompanied by a significant negative divergence in the RSI (14), indicating potential further weakness. Sentiment may remain weak in the near term, with support placed at 25,750. A break below 25,750 could lead to further correction. On the higher side, res...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty made another lifetime high as bulls seemed in no mood to back down, despite a weak start. The sentiment is likely to remain positive as long as it remains above 25,900, where aggressive put writing was visible. Technically, the Nifty has sustained above its very short-term moving average. Furthermore, no reversal is visible in the momentum indicator. Therefore, we might witness a range-...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
India equity benchmarks closed flat on Monday following sideways sentiment in the Market.
Sensex was closed at 75,390, down 19 points. During the session, Sensex touched the 76,000 mark for the first time and made a new all-time high of 76,009. The BSE benchmark has gained 1,000 points in just 31 trading sessions.
Nifty was down 24 points, at 22,932. During the session, the NSE benchmark crossed the 23,100 level for the first time.
More action was seen in midcap and smallcap compared...
Sensex closes flat after touching 76,000 for first time
The Nifty maintained its strength by staying above 22,500 throughout Monday, exceeding the previous all-time high of 22,619, said Rupak De, Senior Technical Analyst, LKP Securities.
"However, the index has reached near the upper band of the rising wedge, which might act as resistance in the short term. The index might consolidate within a range over the short term. On the lower end, support is placed at 22,500, below which the index might fall back into consolidation," De said.
...
Auto, real-estate stocks lead broad-based rally in markets
The Nifty has been consolidating in a narrow range at higher levels for the last few sessions, while the broader markets have bounced back strongly, especially after a sharp recent correction, Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, said on Thursday.
While the Nifty closed 80 points, or 0.36 per cent, up at 22,514.65 on Thursday, the Sensex ended 350.81 points, or 0.47 percent, higher at 74,227.63, their best close ever.
Sector-wise, it was a mixe...
Broader markets bounce back after sharp correction
The domestic market experienced range-bound movement on Tuesday post hitting new record high the preceding day, influenced by cautious trend in global peers ahead of the US Fed Chair's congressional testimony and key US jobs data, said Vinod Nair, Head of Research at Geojit Financial Services.
Nifty 50 closed the day with a loss of 49 points, or 0.22 per cent, at 22,356.30, while the Sensex ended at 73,677.13, down 195 points, or 0.26 per cent.
The absence of significant stimulus me...
Domestic market remains range-bound
The market took a breather on Monday after the recent run-up as investors' focus shift from earnings to economic triggers this week, said Vinod Nair, Head of Research at Geojit Financial Services.
While Nifty was down 90.65 points, or 0.41 per cent, at 22,123.85 at close on Monday, Sensex was down 352.67 points, or 0.48 per cent, at 72,790.13.
The US and India GDP data, eurozone inflation, and US jobless claim data will be influential economic numbers for the central bank to take a ...
Markets take a breather after recent run-up
Nifty opened higher but failed to sustain the morning momentum, leading to a closing at the day's low due to profit booking on Friday, said Rupak De, Senior Technical Analyst at LKP Securities.
The Nifty 50 closed at 22,212.70 on Thursday, down 4.75 points or 0.02 per cent, while the Sensex ended flat by 15.44 points lower or 0.02 per cent at 73,142.80.
However, the sentiment remained positive for the short term as the index closed above the crucial resistance level of 22,200,...
Nifty closes at day`s low on profit booking
The Nifty midcap and smallcap indices, with robust rallies of 42 per cent and 49 per cent on a YTD basis, respectively, now carry a 25 per cent premium to their long-term averages, signalling potential valuation concerns, Vinod Nair, Head of Research at Geojit Financial Services, said on Tuesday.
Following the recent impressive surge, the Nifty50 underwent a consolidation phase on Tuesday due to anticipated elevated November inflation in the country, driven by rising food prices, which may...
Small and midcap indices trading above long-term averages
Below Quote on Nifty 13 September 2023 By Rupak De, Senior Technical Analyst at LKP Securities"Bulls successfully regained control from bears, pushing Nifty back above the 20,000 mark. Notably, it closed above this threshold, marking a historic closing high for Nifty. The prevailing sentiment remains optimistic, contingent on put writers safeguarding the 19,900 level. A drop below 19,900 could unsettle put writers, potentially triggering market corrections.On the upside, the 20,100-20,150 ran...
Quote on Nifty : Bulls successfully regained control from bears, pushing Nifty back above the 20,000 mark Says Rupak De, LKP Securities
Below Quote on Nifty 12 September 2023 By Rupak De, Senior Technical Analyst at LKP Securities"Nifty witnessed a correction as sellers exerted pressure around the 20,100 level. However, the correction was contained, thanks to put writers at 19,900 who helped shield the market from further declines. In the short term, the headline index Nifty is expected to maintain its strength as long as it stays above the critical short-term support level of 19,780. On the higher end, a ...
Quote on Nifty : Nifty witnessed a correction as sellers exerted pressure around the 20,100 level Says Rupak De, LKP Securities
