Latest news with #NagarajShetti
Hans India
5 days ago
- Business
- Hans India
Trade Setup June 27: Nifty eyes 26,000; bullish momentum expected to continue
The Nifty 50 surged for the third consecutive session on Thursday, climbing 304 points to close at 25,549—its highest in nearly nine months. The sharp upward move marked a decisive breakout from its two-month trading range of 24,500–25,200. Analysts believe this momentum could propel the index toward 25,800–26,000 in the coming days. Intraday dips were swiftly bought into, showing strong bullish sentiment, especially on the day of the monthly expiry. The broader market mirrored this optimism, with the Nifty Midcap 100 up 0.59% and the Nifty Smallcap 100 gaining 0.42%. Sectorally, metals, oil & gas, and financial services led the rally. Nifty Metal rose 2.3%, fueled by a drop in Brent crude to $66 per barrel and a weakening US dollar, which hit a three-year low below the 97 mark. In contrast, the media, realty, and IT sectors ended in the red. Domestic cues also played a role. A strong start to the monsoon season—with rainfall 4% above the long-period average—lifted hopes for agri, rural, and consumer-facing sectors. Defence stocks may also stay in focus due to India's increasing manufacturing alignment with Europe and an export target of ₹50,000 crore by 2029. Siddhartha Khemka of Motilal Oswal expects the bullish momentum to persist, backed by stable domestic indicators and a supportive global backdrop. Nagaraj Shetti of HDFC Securities noted that the breakout has opened the path for the Nifty to test 25,800–26,000 in the near term, with immediate support seen at 25,400. Rupak De of LKP Securities echoed the positive sentiment, saying the index's breakout above consolidation signals strong optimism. With resistance seen only around 25,700–25,750, the upside may continue, barring a drop below 25,300.
Mint
6 days ago
- Business
- Mint
Nagaraj Shetti suggests Bajaj Finserv, Tata Steel shares to buy in the short term; do you own?
Stock market today: Equity benchmark indices Sensex and Nifty 50 experienced a surge on Thursday, continuing their upward trend for the third consecutive day, fueled by optimism following a ceasefire between Iran and Israel. The 30-share BSE Sensex increased by 398.09 points, reaching 83,153.60 at 12:55 IST. The 50-share NSE Nifty 50 rose by 128.45 points to hit 25,372.05. According to market analysts, as geopolitical risks diminish, investors are now shifting their attention back to the US Federal Reserve and the upcoming US trade tariff deadline set for July 9. On technical front, Nagaraj Shetti of HDFC Securities believes the next upside levels to be watched around 25,600 and immediate support is placed at 25,250. Shetti recommends two stocks to buy in the short-term. Here's what he says about the overall market. Nifty 50 continued its upside momentum on Thursday and is currently showing minor volatility at the swing highs of around 25,400. The broader high low range of 24,500-25,200 has been taken out on the upside recently and Nifty 50 is currently trading at the highs. This price action could be considered as an upside breakout of broader high low range movement. The next upside levels to be watched around 25,600 and immediate support is placed at 25,250. Nagaraj Shetti of HDFC Securities recommends these two stocks to buy in the short-term - Bajaj Finserv Ltd, and Tata Steel Ltd. After showing a range bound action over the last few weeks, the stock price is currently in an attempt of decisive upside breakout of downside sloping trend line. The stock price is sustaining above the daily 10 & 20 period EMA. The overall chart pattern indicates bullish setup. After witnessing an upside breakout of the down sloping trend line at ₹ 154 recently, the metal stock has been in a sustainable upmove since then in the last couple of sessions. The current price action indicates a formation of bullish pattern like higher tops and bottoms. The volume and RSI shows positive indication for the near term. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
6 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 26 amid Israel-Iran ceasefire
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking mixed global market cues amid cautiousness over the fragile Israel-Iran ceasefire. The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,296 level, a premium of nearly 43 points from the Nifty futures' previous close. On Wednesday, the domestic equity market indices extended rally for the second consecutive session to end sharply higher, with the benchmark Nifty 50 closing above 25,200 level. The Sensex jumped 700.40 points, or 0.85%, to close at 82,755.51, while the Nifty 50 settled 200.40 points, or 0.80%, higher at 25,244.75. Here's what to expect from Nifty 50 and Bank Nifty today: Nifty 50 continued to move up on June 25 and closed the day with healthy gains of 200 points. 'A reasonable positive candle was formed on the daily chart on Wednesday, after the formation of a negative candle of the previous session. Technically, this market action indicates an attempt of bulls to recover the intraday losses of Tuesday. The Nifty 50 is on the way towards the decisive upside breakout of the broader high low range of 25,200 - 24,500 levels,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Further sustainable upside from here could pull Nifty 50 towards the next upside target of 25,600 - 25,700 levels in the near term. Immediate support is placed at 25,000 levels, he added. Om Mehra, Technical Research Analyst, SAMCO Securities noted that the Nifty 50 holds above the 9-day and 20-day moving averages, with the latter placed near 25,000, acting as a near-term cushion. The daily Supertrend support trails, indicating ample buffers on the downside. 'The RSI is now hovering above the key 60-mark, showing improving momentum. Meanwhile, the MACD is on the verge of a bullish crossover. The India VIX declined sharply by 5% to 12.96, reducing near-term volatility concerns and creating a supportive outlook. If the index sustains above 25,200, the next potential stretch could be toward 25,330 – 25,410. On the downside, 25,100 - 25,000 now acts as immediate support,' Mehra said. According to Dr. Praveen Dwarakanath, Vice President of Nifty 50 formed a bullish candle near the upper Bollinger band, indicating strength in the index. 'The immediate resistance for the index is at 25,600 and then 26,200 levels and the support is now at 24,800 levels. The ADX DI+ line is sloping upside with the ADX average line, indicating momentum in the rally. The momentum indicators are sloping up, suggesting further momentum on the upside in the index,' said Dwarakanath. VLA Ambala, Co-Founder of Stock Market Today, expects the market to lean towards a buy-on-dip strategy, especially if the Nifty 50 index opens below 25,000 due to any macroeconomic triggers. 'Currently, we are in a bullish trend with no signs of reversal. So, for the remaining trading session in June, we could expect Nifty to gain support between 25,000 and 24,950 and face resistance near 25,300 for the rest of the June session,' Ambala said. Bank Nifty index gained 159.25 points, or 0.28%, to close at 56,621.15 on Wednesday, extending its rebound while respecting the rising channel boundaries. 'Bank Nifty formed a doji candle which remained enclosed inside previous session price range signaling consolidation amid stock specific action. Index in the process has retraced more than 80% of its recent breather (57,049 - 55,149). Momentum remains firmly positive above the 55,400 zone, which aligns with the recent consolidation base and the previous week's low, reinforcing it as a near-term pivot support,' said Bajaj Broking Market. Looking ahead, it expects the Bank Nifty index to retest the all-time high near 57,050, with potential extension towards the 57,600-mark in the coming weeks. 'The daily 14 period RSI remains in an uptrend, further validating the bullish structure. Key structural support is placed at the 54,500 – 54,000 zone, marked by the confluence of the 50-day EMA and key Fibonacci retracement levels, acting as a strong downside cushion,' said the brokerage firm. Om Mehra highlighted that the Bank Nifty index traded in a narrow band but managed to hold above its short-term moving averages. 'The 9-day and 20-day EMAs continue to act as support, while the 50-day is catching up from below. The setup reflects steady progress, though a stronger directional push is awaited. The RSI has climbed above 60, indicating momentum is gradually building after recent consolidation. The immediate hurdle is placed near the upper channel resistance around 57,000, while the support for the near term stands at 56,200,' Mehra said. A 'buy on dip' strategy would be the preferred approach for the upcoming session, he added. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
6 days ago
- Business
- Hans India
Trade Setup June 26: Nifty eyes 25,700 after hitting 25,245; breaches key resistance
The Nifty 50 rallied 200 points on Wednesday to close at 25,245—its highest closing level so far in 2025—marking a decisive breakout above the crucial resistance of 25,200. The session began with a 106-point gap-up and sustained upward momentum throughout the day, ending at the day's high. Broad-based buying lifted more than 40 Nifty stocks into the green. Titan, Mahindra & Mahindra, and Grasim were among the top gainers. Sectorally, Media, IT, Consumer Durables, and Auto led the charge, while only the Nifty Private Bank index ended in the red. The bullish sentiment also extended to broader markets. The Nifty Midcap 100 gained 0.44% and the Smallcap 100 advanced 1.49%, marking the fourth straight day of gains for both indices. Despite foreign institutional investors (FIIs) remaining net sellers in the cash market, domestic institutional investors (DIIs) continued their buying spree, cushioning the rally. Technical Viewpoints: Nagaraj Shetti of HDFC Securities said the breakout from the 24,500–25,200 range signals renewed bullish strength, projecting an upside potential towards 25,600–25,700. He pegged immediate support at 25,000. LKP Securities' Rupak De echoed similar sentiment, citing strengthening market confidence, particularly after the recent Israel-Iran ceasefire. He identified resistance at 25,350 and projected a possible move to 25,750 if this level is breached. Key support lies in the 24,820–25,000 zone. According to Om Mehra of SAMCO Securities, Nifty's close above its short-term resistance band at 25,200 confirms a bullish breakout, following multiple failed attempts in recent weeks. Nandish Shah from HDFC Securities noted that the index has exited a six-week consolidation phase. While support now shifts to 25,000, a fresh resistance could emerge near 25,500. Bank Nifty Outlook: The Nifty Bank index inched up 0.28% to close at 56,621.15, trading within a narrow band but comfortably above its 9-day and 20-day EMAs. Mehra pointed out that near-term support lies at 56,200, with the immediate hurdle at 57,000, recommending a buy-on-dips approach. With momentum building and technical indicators pointing north, traders will closely watch for a breakout above 25,350 on June 26 to confirm the next leg toward 25,700.
Mint
7 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 25 after Israel-Iran ceasefire
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Wednesday, tracking upbeat global market cues after Israel and Iran agreed for a ceasefire, ending the war. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,175 level, a premium of nearly 103 points from the Nifty futures' previous close. On Tuesday, the domestic equity market ended higher, with the benchmark Nifty 50 closing above the 25,000 levels. The Sensex rose 158.32 points, or 0.19%, to close at 82,055.11, while the Nifty 50 settled 72.45 points, or 0.29%, higher at 25,044.35. Here's what to expect from Nifty 50 and Bank Nifty today: In the derivatives segment, the highest Call OI (Open Interest) is seen at the 25,200 strike, and the highest Put OI at 25,000, indicating a short-term trading range between 25,000 – 25,200 for the Nifty 50, said Mandar Bhojane, Research Analyst at Choice Broking. Nifty 50 failed to sustain the intraday highs as it erased most of its intraday gains and closed the day off the highs. 'A reasonable negative candle was formed on the daily chart with a long upper shadow. Technically, this market action indicates false upside breakout attempt of broader high low range of the last one month around 25,200 levels. This could signal there is a possibility of some more consolidation in the short term before surging higher again,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the short-term trend of Nifty 50 remains positive amidst range movement. Further sustainable move above 25,200 - 25,300 levels could open further upside towards 25,600 for the near term. Immediate support is placed at 24,900 levels. Om Mehra, Technical Research Analyst, SAMCO Securities, highlighted that the Nifty 50 floats above the 9-day and 20-day moving averages, which may act as a cushion during minor dips. The RSI has moved back above the 55 mark, after some exhaustion. However, it is yet to break above 60 for a clearer directional confirmation. 'The MACD histogram remains flat, but is slowly flattening, indicating a potential shift in tone. The upper Bollinger band near 25,300 continues to pose strong resistance, and a close above this level would likely open the door for a fresh directional leg. Until then, Nifty 50 may remain range-bound with support around 24,800. The India VIX cooled off by 2.92% to 13.64, indicating a drop in market nervousness and supporting the current consolidation,' said Mehra. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 gave a breakout above its resistance of the 25,200 level, but could not sustain the high, indicating weakness in the index near its resistance. 'Nifty 50 index is now at a level where one can sell with a target near its support at 24,500 level. The momentum indicators on the daily chart have sharply risen to the overbought region and showing reversal signs. In the rally today, present weekly expiry calls saw heavy writing, indicating a closing below 25,100 levels for present week expiry,' said Dwarakanath. The immediate support for the index is at the 24,500 level, a drop to this level can be an opportunity to go long with a target of 25,200 or higher, he added. VLA Ambala, Co-Founder of Stock Market Today said that the Nifty 50 formed a High Wave Doji candlestick pattern, indicating high volatility and indecision. 'I recommend maintaining a neutral strategy. We can expect Nifty 50 to find support between 24,850 and 24,900 and meet resistance between 25,300 and 25,380 in the coming intraday trading session,' Ambala said. Bank Nifty index ended 402.55 points, or 0.72%, higher at 56,461.90 on Tuesday, forming a high wave candle with a higher high and higher low signaling positive bias. 'Bank Nifty retraced more than 80% of its recent breather (57,049 - 55,149). Going forward, the Bank Nifty index is expected to maintain positive bias and head towards the all-time high placed around 57,050 and 57,600 levels in the coming weeks. Immediate bias remains positive above 55,400 levels being the confluence of recent consolidation area and last week low. The daily stochastic remains in uptrend, thus validating positive bias,' Bajaj Broking Research said in a note. According to the brokerage firm, key support is placed at 54,500 - 54,000 levels, being the confluence of 50 days EMA and key retracement level of the previous up move. Om Mehra said that while the Bank Nifty index showed continued strength, it encountered resistance near the 56,800 zone, aligning with the upper Bollinger Band, and has faced mild selling pressure during the latter half of the session. 'The 20-day median, currently around 56,000, continues to act as a pivot, around which the index has been coiling. The RSI has ticked up to 59 but remains lodged below the decisive 65 mark, where momentum typically gains strength. On the hourly chart, the structure reflects a higher-high formation. Until a clean breakout occurs above 56,850, the trend may remain choppy and sideways. The support is placed near 55,700,' Mehra said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
