Page 38 - Technical Research News Today

A breakout above 22,150, Nifty may experience upward momentum, potentially reaching levels such as 22,500 and beyond, says Rupak De, Senior Technical Analyst, LKP Securities.

Analysts expect markets to test higher levels in the days to come as uncertainties surrounding the budget and the Feds rate meeting dissipate

"Markets are not in a hurry for the next directional move and the recent price action reaffirms our view," Ajit Mishra, SVP - Technical Research, Religare Broking said. Traders have no option but to align their positions accordingly and focus more on stock-specific trading approaches, Mishra said as he showed a silver lining in the clouds in the form of action in broader markets.

The short-term uptrend status of Nifty remains intact. But, the overall chart pattern suggests a possibility of high volatility at the new highs. Any attempt of upmove from here could encounter strong resistance around 22,100 -22,200 levels and that could possibly result in short-term weakness from the highs.

Shares of HDFC Bank, which carries 40 percent weightage in the Nifty Bank index, were up 0.24 percent

Nifty made a pattern of alternating between up and down days for the seventh consecutive day on Thursday to end 26 points lower and form a small bearish candle on Budget Day.

Budget 2024: With the conclusion of the Interim Budget 2024, market attention is set to revert to earnings and the impending RBI policy next week. What should be your market strategy now? Heres what experts say.

Indian stocks experienced a turbulent ride, closing slightly lower on the day the interim budget for 2024–25 was unveiled. The Nifty and Sensex ended down, with sectors like media, metal, and realty witnessing declines, while PSU Bank saw a rise. Market analysts attribute the fluctuations to uncertainties from the US Federal Reserve’s monetary policy and lower-than-expected capital expenditure in the budget. - Newsx

BY Animesh Ikshit

​Finance Minister Nirmala Sitharaman promised economic reforms to drive growth in her Budget speech, which was largely expected to avoid significant spending on new welfare programmes ahead of the election