Page 56 - Technical Analyst News Today

Stock market today: Sensex closed at 66,160.20, down 107 points, or 0.16 per cent. Nifty50 closed at 19,646.05, down 14 points, or 0.07 per cent. Mid and smallcaps outperformed the benchmark index.

The Nifty index formed an indecisive Doji candle after finishing the week with a small loss of 14 points, reflecting a downward trend in the short-term. HDFC Securities suggested any potential upside may encounter strong resistance at the 19,750-19,800 range, the next crucial lower supports level is expected around 19,500-19,450.

Day trading stocks: Analysts have recommended buying Axis Bank, Dabur, Punjab National Bank, City Union Bank, Max Financial Services, and OIL for intraday trading

Indian stock market Nifty fell by 118 points to close at 19,659.90, forming a lower top and bearish candle indicating further correction. The daily Bollinger bands also suggest a short-term consolidation. Support at 10-day EMA at 19,680 has been broken after sustaining for 21 days, showing weakness and a possible

Experts advised traders to wait for some consolidation or a decent price dip before considering aggressive long positions.

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The Nifty index formed a shooting star-like pattern on Wednesday, facing resistance levels around 19,800 after gaining 98 points. Analysts suggest that the support zone will be in the range of 19,615-19,560, while the upside target is seen at 19,830-19,850. According to Prashanth Tapse, the technical landscape of the Nifty suggests consolidation, with interweek support at 19561 and immediate hurdles at 20000. Meanwhile, Minor downward correction has been completed and the market is likely to shi...

The stock rose from Rs 160.50 recorded on 21st March 2023 to Rs 229 as on 21st July 2023 which translates into an upside of 43%.

Day trading stocks: Experts have recommend five stocks to buy today — Power Grid, IndusInd Bank, ICICI Bank, GAIL, and Oil India Limited.

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