Page 4 - Senior Technical News Today

Nifty made strong gains on Monday as the market sentiment was boosted by hopes of a normal monsoon and better-than-expected direct tax collections.Nifty opened higher and maintained its strength throughout the session to close at the day's high ...

The Nifty Bank witnessed value buying at lower levels for the second consecutive day in a row, but it failed to hold on to the 48,000 mark. The index is likely to face stiff resistance around 48K marked by the highest Call open interest (OI), suggest experts.

This week's quarterly results of prominent companies, India’s manufacturing PMI, services PMI, and Foreign Exchange Reserves data, are major events that will move the markets

India Business News: Gold prices on the Multi Commodity Exchange (MCX) experienced an uptick, climbing by Rs 102 or 0.14% to reach Rs 72,785 per 10 grams. Similarly, silver prices saw an increase, with MCX May silver contracts rising by Rs 112 or 0.13% to Rs 83,385 per kilogram. These price movements occurred on Friday amidst growing concerns over geopolitical tensions.

Gold prices rise with geopolitical concerns, US retail sales data, and tensions between Israel and Iran. Gold expected to trade positively. Expert analysis on bearish engulfing pattern and intraday trading strategy provided.

Federal Bank, PNB, AU Small Finance Bank, and Bank of Baroda witnessed buying while selling pressure was seen in SBI, HDFC Bank, ICICI Bank, IndusInd Bank, and Axis Bank.

The next crucial support level stands at 22370. On the upside 22620 – 22650 shall act as an immediate hurdle from short term perspective, says Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

The stock has turned multibagger by rallying 257.17 per cent in the past one year. It has outperformed sub-index Nifty Realty's 128.70 per cent jump in a year.

The recent uptick has been on account of slippages in the dollar index (DXY) which has declined by 1.30% over the last one month. Today it was hovering near the 104.13 mark, up by 0.02 or 0.02%.

Nifty Bank also opened on a positive note and extended the gains as the day progress and crossed 49,000 level for the first time.