Page 3 - Trading Strategies
Nifty can tumble over 15% from here on if it breaks 17,300, charts suggest
In the interim, the 200-WMA at 16,975 could be another key level to watch out for, as the Nifty had bounced back from there during the correction in the first half of 2022.
 "Nifty can tumble over 15% from here on if it breaks 17,300, charts suggest")
Ravi Nathani recommends to focus on realty, pharma shares on dips
The technical analyst also advices to avoid media stocks for now, as the Nifty Media index could side to 1,631 level.
 "Ravi Nathani recommends to focus on realty, pharma shares on dips")
MCX Crude Oil remains range-bound; bias can turn positive above Rs 6,465
On the flip side, in case, Crude Oil futures break the support at the lower-end the commodity could dip below the Rs 6,000 mark.
 "MCX Crude Oil remains range-bound; bias can turn positive above Rs 6,465")
Key support for MCX Gold stands at Rs 55,900; Silver Rs 64,400
The weekly chart suggests, sustained break and trade below Rs 55,900, can trigger a fall in Gold futures towards the Rs 54,000 level.
 "Key support for MCX Gold stands at Rs 55,900; Silver Rs 64,400")
Here's why the Nifty can rally to 18,200; Ravi Nathani explains
According to the technical analyst, the Nifty is in the process of forming an Inverse Head and Shoulder pattern, which is a bullish chart pattern.
 "Here's why the Nifty can rally to 18,200; Ravi Nathani explains")
Trading strategies in Persistent Systems, Wipro: Mehul Kothari
According to the technical analyst from Anand Rathi, Persistent Systems can advance to Rs 5,250; while Wipro may see faster momentum above Rs 414.
Half of Nifty 50 stocks yet to reclaim Budget peaks, breadth stays fragile
Selective stocks like Bharat Petroleum Corporation, Divi's Laboratories, Hindalco Industries, Hero MotoCorp and State Bank of India, the technical charts are reflecting clear weakness.
 "Half of Nifty 50 stocks yet to reclaim Budget peaks, breadth stays fragile")
Bias for MCX Crude Oil turns marginally positive, can rally up to Rs 7,600
Meanwhile, the MCX Natural Gas futures need to conquer the key resistances at Rs 224 and Rs 232 for a meaningful pullback rally to emerge.
 "Bias for MCX Crude Oil turns marginally positive, can rally up to Rs 7,600")
Chart check: Are new-age stocks witnessing a trend reversal or pullback?
The present scenario of new-age stocks reveals a pullback (rebound) in their stock prices, show technical charts
 "Chart check: Are new-age stocks witnessing a trend reversal or pullback?")
MSCI revision: CG Power, Bank Baroda look bullish on charts; avoid Biocon
Biocon share may slip up to 21 per cent if breaks 52-week low
 "MSCI revision: CG Power, Bank Baroda look bullish on charts; avoid Biocon")
Upside for Gold seen capped at Rs 56,950; Silver may test Rs 64,000
On the downside, the Rs 56,235-level is the key support for Gold futures, below which a prolonged consolidation phase seems likely.
 "Upside for Gold seen capped at Rs 56,950; Silver may test Rs 64,000")
MCX Crude Oil remains range-bound; Natural Gas can bounce back to Rs 255
The MCX Natural Gas futures need to sustain above Rs 209-level, break and sustained trade above Rs 224 can trigger a rally towards Rs 255.
 "MCX Crude Oil remains range-bound; Natural Gas can bounce back to Rs 255")
Here's what Ravi Nathani recommends on the financial sector
According to the technical analyst, traders should adopt a strategy of purchasing near support and selling near resistance for the Nifty financial services index
 "Here's what Ravi Nathani recommends on the financial sector")
MCX Gold likely to re-test Rs 58,000; Silver may drop to Rs 63,500
The MCX Gold futures are likely to find considerable support around Rs 56,235 level; the bias may turn cautious only on sustained trade below the same.
 "MCX Gold likely to re-test Rs 58,000; Silver may drop to Rs 63,500")
Traders can adopt sell-on-rise strategy on Bank Nifty, says Ravi Nathani
According to the technical analyst, the Bank Nifty is likely to exhibit a negative bias as long as it remains below 42,850.
 "Traders can adopt sell-on-rise strategy on Bank Nifty, says Ravi Nathani")
Range-bound MCX Crude Oil may test Rs 6,100; Natural Gas in oversold zone
Natural Gas futures have tumbled over 74 per cent their record highs. The commodity is now seen trading below major monthly moving averages after two years.
 "Range-bound MCX Crude Oil may test Rs 6,100; Natural Gas in oversold zone")
Ravi Nathani recommends to wait for correction to complete in these sectors
According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.
ITC, NTC Ind: Strategies for Cigarette-related stocks after duty hike
ITC stock needs to sustain over Rs 350 to embark a new bull-run
 "ITC, NTC Ind: Strategies for Cigarette-related stocks after duty hike")
Ravi Nathani recommends placing bearish trading bets on Nifty Metal index
According to the technical analyst, the Nifty FMCG index is gyrating in a 1,000-point range, a breakout from the same could trigger a fresh trend.
Nifty PSU Bank, Finance indices likely to pullback, says Ravi Nathani
Meanwhile, the NIFTY Pvt Banks Index is expected to seek support between 19,936 and 19,916 range, says the technical analyst.
 "Nifty PSU Bank, Finance indices likely to pullback, says Ravi Nathani")
