Latest news with #Midcap100
Economic Times
19 hours ago
- Business
- Economic Times
Nifty faces key resistance at 25,200 amid geopolitical tensions
Following Friday's rally, Nifty now faces a crucial test near 25,200. Analysts say a sustained move above this level could pave the way for a further rise toward 25,700–25,900, but also caution that geopolitical uncertainties may continue to inject volatility into the markets. On the downside, support at 24,500 remains crucial with stock-specific action in banks, midcaps, and select names like M&M, BEL, and CAMS offering trading opportunities. ADVERTISEMENT RUCHIT JAIN VICE PRESIDENT, MOTILAL OSWAL FINANCIAL SERVICES Where is Nifty headed this week? Geopolitical tensions have led to a consolidation phase in Indian markets over the past month. However, this appears to be a time-wise corrective phase within an uptrend, with Nifty holding above its support zone of 24,500– 24,450—a crucial near-term level. The immediate hurdle for the index lies in the 25,200–25,250 range. A breakout above this could propel the index towards 25,500–25,700. On the downside, 24,800 is the immediate support, followed by positional support at 24,450. Trading strategies for the week: Traders are advised to focus on stocks that have shown relative strength over the past month. Mahindra & Mahindra (M&M) has given a breakout, signalling a bullish trend. Exchange-related stocks such as MCX, and defence names like BEL, BEML, and BDL are expected to extend their uptrend in the short term. PRITESH MEHTA EVP – INSTITUTIONAL EQUITIES, YES SECURITIES ADVERTISEMENT Where is Nifty headed this week? Despite elevated global uncertainty, inter-market signals suggest relative strength for Indian equities. Friday's 300-point rally was a welcome shift, as the market had been struggling to find a trending move. More importantly, the index managed to sustain its gains without cooling off. Our customised Top 10 Nifty index gained momentum after weeks of consolidation, indicating strength in large caps. Our breadth indicator also showed a bullish crossover, with ~58% of index constituents displaying a bullish bias. An ABC breakout, along with a double-top buy signal on the Point & Figure chart, combined with improving breadth, suggests a potential move towards the 25,700 zone. ADVERTISEMENT Trading strategies for the week: Improved breadth, renewed traction in banks and financials, and support in the Midcap 100 index around its 10-column average all point to further upside. Among sectors, our customised Capital Markets and Defence indices are bouncing from support. BEL, CAMS, and CDSL are showing multiple bullish patterns and could rally 10–14% in the coming weeks. The ratio of IT to Nifty has followed through on a bullish turtle breakout, indicating a potential comeback for select IT stocks. ARPAN SHAH ADVERTISEMENT HEAD – TECHNICAL RESEARCH, MONARCH NETWORTH CAPITAL Where is Nifty headed this week? Nifty has been consolidating within the 24,500–25,200 range for past six weeks, lacking a clear directional trend. Despite absorbing geopolitical shocks, including the India-Pakistan conflict, the market has managed to hold key support levels. Friday's session ended with a strong bullish candlestick formation, indicating that a breakout above 25,200 could trigger short-covering and open upside targets of 25,600–25,900. The banking index, which has been consolidating near its all-time high, is expected to move in line with the benchmark, with upside targets of 57,200–58,000. ADVERTISEMENT Trading strategies for the week: The midcap index has formed a strong reversal at its breakout level. Traders can consider buying for upside targets of 13,400–13,600. The IT index has been gradually inching up, and offers a favourable risk-reward setup. Investors may accumulate HCL Tech, Kaynes, and R Systems at current levels. PSU bank stocks, including SBI and Bank of Baroda, have seen profit booking post the RBI rate cut and are now near support, both can be added at current prices. Defence stocks, having rallied sharply in the last 3–4 months, now present an unfavourable risk-reward and are best avoided. Among mid- and small-caps, CGCL, Praj Industries, GPIL, and Bharat Rasayan are good accumulation bets at current levels.
Time of India
19 hours ago
- Business
- Time of India
Nifty faces key resistance at 25,200 amid geopolitical tensions
Following Friday's rally, Nifty now faces a crucial test near 25,200. Analysts say a sustained move above this level could pave the way for a further rise toward 25,700–25,900, but also caution that geopolitical uncertainties may continue to inject volatility into the markets. On the downside, support at 24,500 remains crucial with stock-specific action in banks, midcaps, and select names like M&M, BEL, and CAMS offering trading opportunities. RUCHIT JAIN VICE PRESIDENT, MOTILAL OSWAL FINANCIAL SERVICES Where is Nifty headed this week? Geopolitical tensions have led to a consolidation phase in Indian markets over the past month. However, this appears to be a time-wise corrective phase within an uptrend, with Nifty holding above its support zone of 24,500– 24,450—a crucial near-term level. The immediate hurdle for the index lies in the 25,200–25,250 range. A breakout above this could propel the index towards 25,500–25,700. On the downside, 24,800 is the immediate support, followed by positional support at 24,450. Trading strategies for the week: Traders are advised to focus on stocks that have shown relative strength over the past month. Mahindra & Mahindra (M&M) has given a breakout, signalling a bullish trend. Exchange-related stocks such as MCX, and defence names like BEL, BEML, and BDL are expected to extend their uptrend in the short term. Agencies Live Events PRITESH MEHTA EVP – INSTITUTIONAL EQUITIES, YES SECURITIES Where is Nifty headed this week? Despite elevated global uncertainty, inter-market signals suggest relative strength for Indian equities. Friday's 300-point rally was a welcome shift, as the market had been struggling to find a trending move. More importantly, the index managed to sustain its gains without cooling off. Our customised Top 10 Nifty index gained momentum after weeks of consolidation, indicating strength in large caps. Our breadth indicator also showed a bullish crossover, with ~58% of index constituents displaying a bullish bias. An ABC breakout, along with a double-top buy signal on the Point & Figure chart, combined with improving breadth, suggests a potential move towards the 25,700 zone. Trading strategies for the week: Improved breadth, renewed traction in banks and financials, and support in the Midcap 100 index around its 10-column average all point to further upside. Among sectors, our customised Capital Markets and Defence indices are bouncing from support. BEL, CAMS, and CDSL are showing multiple bullish patterns and could rally 10–14% in the coming weeks. The ratio of IT to Nifty has followed through on a bullish turtle breakout, indicating a potential comeback for select IT stocks. ARPAN SHAH HEAD – TECHNICAL RESEARCH, MONARCH NETWORTH CAPITAL Where is Nifty headed this week? Nifty has been consolidating within the 24,500–25,200 range for past six weeks, lacking a clear directional trend. Despite absorbing geopolitical shocks, including the India-Pakistan conflict, the market has managed to hold key support levels. Friday's session ended with a strong bullish candlestick formation, indicating that a breakout above 25,200 could trigger short-covering and open upside targets of 25,600–25,900. The banking index, which has been consolidating near its all-time high, is expected to move in line with the benchmark, with upside targets of 57,200–58,000. Trading strategies for the week: The midcap index has formed a strong reversal at its breakout level. Traders can consider buying for upside targets of 13,400–13,600. The IT index has been gradually inching up, and offers a favourable risk-reward setup. Investors may accumulate HCL Tech, Kaynes, and R Systems at current levels. PSU bank stocks, including SBI and Bank of Baroda, have seen profit booking post the RBI rate cut and are now near support, both can be added at current prices. Defence stocks, having rallied sharply in the last 3–4 months, now present an unfavourable risk-reward and are best avoided. Among mid- and small-caps, CGCL, Praj Industries, GPIL, and Bharat Rasayan are good accumulation bets at current levels.
Mint
16-06-2025
- Business
- Mint
ONGC to Swiggy - Vinay Rajani of HDFC Sec suggests these 3 stocks to buy in the near-term
Stock market today: India's stock market benchmarks gained ground following a lackluster opening on Monday, buoyed by increases in IT and financial sectors after experiencing two consecutive sessions of decline due to a worsening conflict between Israel and Iran. As of 12:37 IST, the Nifty 50 increased by 0.85% to reach 24,929 . 20, while the Sensex climbed 0.77% to hit 81,752.79. Following the widespread sell-off in the previous two sessions, the markets seem poised for a short-term rebound; however, geopolitical developments will continue to be a significant factor, according to market analysts. Over the weekend, fresh attacks were exchanged between Israel and Iran, raising concerns about broader instability in the oil-rich area. Crude oil prices rose amid worries about supply disruptions, which poses a risk for India, a nation heavily dependent on oil imports. Vinay Rajani of HDFC Securities recommends Oil and Natural Gas Corporation Ltd (ONGC), Swiggy Ltd, and Macrotech Developers Ltd (Lodha). The Nifty 50 continued its consolidation for the fourth consecutive week, experiencing a weekly fall of 1.14%. The Nifty 50 closed below its 20-day EMA (24,791), with the next key support at the 50-day EMA, currently positioned at 24,386. The index has maintained its level above the swing low of 24,462, indicating a continuation of the consolidation phase within the 24,500 and 25,200 range for the fourth straight week. A notable development during the week was the Nifty 50 finding resistance at the swing high made in October 2024, concluding the week with a bearish 'Dark Cloud Cover' candlestick pattern on the weekly chart. This bearish pattern will be confirmed if the Nifty breaks below the candle's low in the upcoming sessions without breaching the high. A close below 24462 could lead to a further slide towards the unfilled gap of 24378-24164 (formed on May 12, 2025), and a closing below 24,164 would signal a bearish trend reversal positionally. The Bank Nifty has formed a bearish 'Engulfing' pattern on its weekly chart. The negative implication of this pattern will be validated if the index breaks its candle's low of 55,149. Should this occur, the Bank Nifty could slide down to its next support level of 53,500. On the upside, the 56,000-56,200 band is expected to offer resistance. The Midcap100 and Microcap250 indices are still holding their uptrend on positional charts, representing resilience in the broader market. However, they also need to protect their levels aboven last week's lows to sustain their upward momentum. Adding to the cautious sentiment, Brent crude has seen a significant price jump, while the Indian rupee has experienced healthy depreciation against the dollar. The combination of higher crude prices and a weaker rupee could collectively contribute to weak Indian equity market sentiments going forward. In summary, while the broader market indices are holding up, both Nifty and Bank Nifty are showing bearish technical patterns and consolidating within key ranges. Critical support levels need to be defended to prevent a potential bearish trend reversal, and external factors like crude oil prices and currency depreciation could add further pressure. Nifty Strategy : Despite a bullish primary trend, Nifty 50 is currently undergoing short-term consolidation. Traders holding long positions should maintain a stop-loss at 24,462. A breach below this level could lead to a further decline towards 24,164 support, and a sustainable close below 24,164 would positionally reverse the bullish trend. Conversely, a close above 25,000 would negate the possibility of a downtrend. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - Oil and Natural Gas Corporation Ltd (ONGC), Swiggy Ltd, and Macrotech Developers Ltd (Lodha). ONGC share price has broken out from multi-week consolidation with rising volumes. Stock price has taken out multi top resistance of 252 and has been sustaining above it. Stock is placed above all key moving averages, indicating a bullish trend on all time frames. Indicators and oscillators have been showing strength on the daily and weekly time frames. Swiggy share price has surpassed the crucial resistance of 20 DEMA with healthy volumes. Daily RSI has been sustaining above 50, which shows the strength in the stock. Daily MACD has shown positive crossover on signal as well as on equilibrium line. Stock has started forming higher top and higher bottom formation on the daily chart. Stock price has taken out previous swing high resistance. Macrotech Developers share price has broken out from the descending triangle pattern on the weekly chart. Stock is placed above key moving averages, indicating bullish trend on all time frames. Realty sector index has been outperforming for last couple of weeks. Monthly RSI has given bullish crossover, which indicates strength in the stocks. Volumes have risen along with the recent price rise. Stock has been forming higher tops and higher bottoms on the daily. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
India Today
02-06-2025
- Business
- India Today
Sensex, Nifty open lower as IT, metal stocks drag market despite good GDP data
Benchmark stock market indices opened lower on Monday, dragged by a decline in Reliance Industries (RIL) stock, along with IT and metal sector S&P BSE Sensex declined 723 points to 80,728.03, while the NSE Nifty50 lost 191 points to 24,559.95 as of 9:25 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the market structure favours continuation of the ongoing consolidation "There are global headwinds like renewed tariff concerns that will restrain a breakout rally. At the same time there are domestic tailwinds that will support the market at lower levels. President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets," he Unilever emerged as the top performer in early trading, gaining 1.43%, followed by Adani Ports and Special Economic Zone which advanced by 0.84%. Mahindra & Mahindra showed resilience with a 0.56% uptick, while IndusInd Bank and Nestle India posted gains of 0.51% and 0.43% Bank faced the steepest decline, dropping 1.71% in opening trades. HCL Technologies was under significant pressure, falling 1.65%, while Infosys retreated by 1.45%. Reliance Industries slipped 1.43%, and Bajaj Finance rounded out the top five losers with a decline of 1.41%.advertisementNifty Midcap100 posted a marginal gain of 0.01% while Nifty Smallcap100 declined by 0.09%. The India VIX surged by 5.86%, indicating increased volatility in early indices displayed a mixed performance with both gains and losses across various segments. On the positive side, Nifty PSU Bank emerged as the top gainer with a rise of 1.45%, followed by Nifty FMCG advancing 0.50%, Nifty Realty climbing 0.25%, and Nifty Financial Services posting a modest gain of 0.83%.However, several sectors opened in negative territory with Nifty IT facing the steepest decline of 1.40%, followed by Nifty Metal dropping 1.21% and Nifty Private Bank falling 0.66%. Other notable losers included Nifty Consumer Durables down 0.83%, Nifty Pharma retreating 0.61%, Nifty Oil & Gas declining 0.61%, Nifty Media slipping 0.55%, Nifty Auto falling 0.46%, and Nifty Healthcare Index dropping marginally by 0.15%.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
India Today
27-05-2025
- Business
- India Today
Sensex, Nifty fall sharply as markets break winning streak on profit booking
Benchmark stock market indices opened lower to fell sharply on Tuesday, pausing their winning run as investors seemed to book profit. IT, auto, FMCG, and heavyweight financials declined in early S&P BSE Sensex was down by 707.85 points to 81,468.60, while the NSE Nifty50 lost 225.40 points to 24,775.75 as of 9:30 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that in the near-term the market is likely to consolidate around the current "Since mutual funds are sitting on sizeable cash any dip will be bought into and high valuations will trigger selling on rallies. A sustained rally will happen only when leading indicators suggest revival in earnings growth. That is some time away," he opened on a predominantly weak note today, with only one stock managing to stay in positive territory amid broad-based selling Bank emerged as the sole gainer in early trading, advancing by 0.04%, while the rest of the major indices faced declines of varying Cement faced the steepest decline, plummeting by 1.38% in opening trades. Axis Bank was under significant pressure, falling 1.34%, while NTPC dropped by 1.32%. Mahindra & Mahindra slipped 1.14%, and Eternal Company rounded out the top five losers with a decline of 1.06%.advertisementNifty Midcap100 declined marginally by 0.08% while Nifty Smallcap100 managed a modest gain of 0.13%. The India VIX surged by 4.57%, indicating heightened market volatility in early sectoral indices opened in negative territory, with Nifty Oil & Gas facing the steepest decline of 0.79%, followed by Nifty Private Bank which dropped 0.74% and Nifty IT falling 0.73%.Other notable losers included Nifty FMCG down 0.68%, Nifty Auto declining 0.65%, Nifty Financial Services slipping 0.60%, Nifty PSU Bank retreating 0.57%, Nifty Metal dropping 0.26%, Nifty Consumer Durables falling 0.23%, and Nifty Media declining 0.16%.However, some sectors managed to buck the negative trend with Nifty Realty posting the strongest gain of 0.33%, while Nifty Healthcare Index advanced 0.15% and Nifty Pharma gained 0.08%.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
