Page 43 - Technical Analyst News Today

Nifty Midcap and Smallcap indices also registered fresh all-time highs. Advancing shares outnumbered the declining shares for the second day in a row as the advance decline ratio stood at 1.21 levels on BSE

The next cue for markets is the Federal Reserves December policy outcome, which is expected later in the day. While the US central bank is expected to hold rates, its commentary will be closely tracked for clues to the rate-cut path

“While the majority of stocks trading above their 200-DMAs is a good sign, it also reflects the market breadth hovering in the overbought territory. This, however, does not show individual stocks are in an overbought zone, as that will be reflected by momentum indicators like RSI and MACD,” Gaurav Bissa of InCred Equities said.

Shares of One97 Communications (Paytm) have been experiencing a persistent downward trend, with a decline of over 3 percent on Wednesday, following a more than 6 percent drop in the previous session. The stock has faced a considerable downturn of 31.5 percent in December alone.

Street experts say that the consolidation is normal right now as the market has entered an

Stocks that were in focus included names like Dr Reddys, which fell (5%), Praj Industries, which rose 7.2%, and IRFC, whose shares increased 7.64% on Monday.

The Finnifty index must scale over 21,250 to draw bullish momentum. A failure to hold the spot 21,200, the 21,250 CE may see aggressive writing as per analyst.

Short-term traders can look to buy the stock now for a possible bounce back towards 500 levels in the next 2-3 months, suggest experts.

Alkem Labs has climbed over three per cent in the Thursday’s session, venturing into new uncharted territories with aggressive volume structure.

Spot Nifty should cross the 20,940 mark to instigate bulls to ride the upward trend. This hurdle remains a crucial level for today, its expiry day.