Latest news with #Nifty
Economic Times
3 hours ago
- Business
- Economic Times
Dalal Street Week Ahead: Time to exit overheated themes, enter emerging plays
The markets broke out after six weeks of consolidation, with the Nifty gaining 2.09%. Support levels have risen to the 25100-25150 zone, and leadership is expected to shift towards bottoming-out sectors. Focus should be on profit-taking in overperforming sectors and shifting to those with improved relative strength, with potential resistance at 25750 and 26000. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) After six weeks of consolidation and trading in a defined range, the markets finally broke out from this formation and ended the week with gains. Over the past five sessions, the markets have largely traded with a positive undercurrent, continuing to edge higher. The trading range was wider than anticipated; the Nifty traded in an 829-point range over the past few days. Volatility took a backseat; the India Vix slumped by 9.40% to 12.39 on a weekly basis. While trending higher throughout the week, the headline index closed with a net weekly gain of 525.40 points (2.09%).The breakout that occurred in the previous week has pushed the support level higher for the Index. Now, the most immediate support level has been dragged higher to the 25100-25150 zone, the one that the markets penetrated to move higher. So long as the Nifty keeps its head above this zone, it is likely to continue moving higher. Over the coming weeks, we are also likely to see a distinct shift in the leadership, with the sectors that were in the bottoming-out process taking the lead. This would also mean that one must now focus on taking profits in the spaces that have run up much harder over the past protecting gains, it would be wise to shift focus to the sectors that are likely to see much improved relative strength going forward from levels of 25750 and 26000 are likely to act as potential resistance levels for the coming week. The supports come in at the 25,300 and 25,000 levels. The trading range is likely to stay wider than weekly RSI is 64.58; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. A large white candle emerged, indicating the directional strength that the markets exhibited throughout the pattern analysis of the weekly chart shows that the Nifty initially crossed above the rising trendline pattern resistance. This trendline began from the low of 21150 and joined the subsequent rising bottoms. However, the Nifty consolidated above the breakout point for six weeks before finally resuming its move higher. The Index has pushed its resistance levels higher; as long as the Index stays above the 25000 level, this breakout will remain is also important to note that the Nifty's Relative Strength (RS) line is attempting to reverse its trajectory. This may lead to the frontline index improving its relative performance against the broader markets. Along with this shift in relative strength, it is also strongly recommended that one consider protecting gains in sectors that have risen significantly over the past several leadership over the coming weeks is likely to change, making rotating sectors even more important than before. While protecting gains, new purchases must be initiated in sectors that are showing improvement in momentum and relative strength. While some consolidation cannot be ruled out, a positive outlook is suggested for the coming our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 ( NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed Rotation Graphs (RRG) show that only two sector Indices, Nifty Midcap 100 and the Nifty PSU Bank Index , are inside the leading quadrant. While the Midcap Index continues to rotate strongly, the PSU Bank Index is seen giving up on its relative momentum. These two groups are likely to outperform the broader markets Nifty PSE Index has rolled inside the weakening quadrant. This may result in the sector slowing down on its relative performance. The Nifty Commodities, FinancialServices, Infrastructure, Banknifty, and the Services Sector Index are also inside the weakening Nifty Consumption Index has rolled into the lagging quadrant. The FMCG Index and the Pharma Index also continue to languish inside this quadrant. The Nifty Metal Index is also located within the lagging quadrant; however, it is sharply improving its relative momentum compared to the broader Nifty Realty, Media, IT, Auto, and Energy Indices are located within the leading quadrant. These groups are likely to assume leadership over the coming weeks as they continue to improve their relative momentum and strength compared to the broader Nifty 500 Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
Time of India
3 hours ago
- Business
- Time of India
Dalal Street Week Ahead: Time to exit overheated themes, enter emerging plays
The markets broke out after six weeks of consolidation, with the Nifty gaining 2.09%. Support levels have risen to the 25100-25150 zone, and leadership is expected to shift towards bottoming-out sectors. Focus should be on profit-taking in overperforming sectors and shifting to those with improved relative strength, with potential resistance at 25750 and 26000. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) After six weeks of consolidation and trading in a defined range, the markets finally broke out from this formation and ended the week with gains. Over the past five sessions, the markets have largely traded with a positive undercurrent, continuing to edge higher. The trading range was wider than anticipated; the Nifty traded in an 829-point range over the past few days. Volatility took a backseat; the India Vix slumped by 9.40% to 12.39 on a weekly basis. While trending higher throughout the week, the headline index closed with a net weekly gain of 525.40 points (2.09%).The breakout that occurred in the previous week has pushed the support level higher for the Index. Now, the most immediate support level has been dragged higher to the 25100-25150 zone, the one that the markets penetrated to move higher. So long as the Nifty keeps its head above this zone, it is likely to continue moving higher. Over the coming weeks, we are also likely to see a distinct shift in the leadership, with the sectors that were in the bottoming-out process taking the lead. This would also mean that one must now focus on taking profits in the spaces that have run up much harder over the past protecting gains, it would be wise to shift focus to the sectors that are likely to see much improved relative strength going forward from levels of 25750 and 26000 are likely to act as potential resistance levels for the coming week. The supports come in at the 25,300 and 25,000 levels. The trading range is likely to stay wider than weekly RSI is 64.58; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. A large white candle emerged, indicating the directional strength that the markets exhibited throughout the pattern analysis of the weekly chart shows that the Nifty initially crossed above the rising trendline pattern resistance. This trendline began from the low of 21150 and joined the subsequent rising bottoms. However, the Nifty consolidated above the breakout point for six weeks before finally resuming its move higher. The Index has pushed its resistance levels higher; as long as the Index stays above the 25000 level, this breakout will remain is also important to note that the Nifty's Relative Strength (RS) line is attempting to reverse its trajectory. This may lead to the frontline index improving its relative performance against the broader markets. Along with this shift in relative strength, it is also strongly recommended that one consider protecting gains in sectors that have risen significantly over the past several leadership over the coming weeks is likely to change, making rotating sectors even more important than before. While protecting gains, new purchases must be initiated in sectors that are showing improvement in momentum and relative strength. While some consolidation cannot be ruled out, a positive outlook is suggested for the coming our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 ( NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed Rotation Graphs (RRG) show that only two sector Indices, Nifty Midcap 100 and the Nifty PSU Bank Index , are inside the leading quadrant. While the Midcap Index continues to rotate strongly, the PSU Bank Index is seen giving up on its relative momentum. These two groups are likely to outperform the broader markets Nifty PSE Index has rolled inside the weakening quadrant. This may result in the sector slowing down on its relative performance. The Nifty Commodities, FinancialServices, Infrastructure, Banknifty, and the Services Sector Index are also inside the weakening Nifty Consumption Index has rolled into the lagging quadrant. The FMCG Index and the Pharma Index also continue to languish inside this quadrant. The Nifty Metal Index is also located within the lagging quadrant; however, it is sharply improving its relative momentum compared to the broader Nifty Realty, Media, IT, Auto, and Energy Indices are located within the leading quadrant. These groups are likely to assume leadership over the coming weeks as they continue to improve their relative momentum and strength compared to the broader Nifty 500 Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
Time of India
4 hours ago
- Business
- Time of India
Nifty futures rollover climbs to 79.53%, signals trader confidence ahead: Sudeep Shah
Synopsis The squeeze sets the stage—the breakout steals the show. For 31 trading sessions, the Nifty moved in a narrow consolidation range, building silent pressure with every passing day.
Economic Times
4 hours ago
- Business
- Economic Times
Nifty futures rollover climbs to 79.53%, signals trader confidence ahead: Sudeep Shah
Markets finally broke out of their five-week-long consolidation phase, supported by improving global sentiment, easing geopolitical tensions, and renewed buying interest from foreign institutional investors (FIIs) in the latter part of the week. The rebound followed a cautious start, with broader participation seen midweek as sentiment turned positive. ADVERTISEMENT Indices gained traction as concerns over Iran-Israel tensions began to subside, prompting a recovery in global risk appetite. As a result, benchmark indices closed the week on a strong note, with the Nifty ending at 25,637.80 and the Sensex at 84,058.90—both near their respective weekly highs. With this, Analyst Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research, SBI Securities interacted with ET Markets regarding the outlook on Nifty and Bank Nifty along with an index strategy for the upcoming week. Following are the edited excerpts from his chat: The squeeze sets the stage—the breakout steals the show. For 31 trading sessions, the Nifty moved in a narrow consolidation range, building silent pressure with every passing day. Like an audience holding its breath before the climax, the market was coiling, waiting for a trigger. That moment finally arrived this week, as Nifty broke free from its range-bound structure, delivering a sharp upside move that ended the week above the 25,600 mark, with a 2.09% importantly, this move led to the highest weekly close since September 2024, confirming that the breakout wasn't just symbolic—it was structural. On the weekly chart, the index has formed a sizeable bullish candle, a visual expression of strong momentum and renewed buying conviction. ADVERTISEMENT This breakout was not an isolated event. It comes with improving breadth across sectors such as Financial Services, Private Banks, Oil & Gas, Infrastructure, and Auto, many of which have also seen breakout patterns of their own. Backed by strong technical indicators and firm sectoral participation, Nifty now looks poised to extend its northward journey in the coming weeks and is likely to test the level of 25,800, followed by 26,100 in the short term. While on the downside, the zone of 25,400-25,350 is likely to provide a cushion in case of any immediate decline. ADVERTISEMENT Throughout the June series, Nifty futures largely remained confined within a narrow trading band of just 732 points, reflecting a phase of indecisiveness and range-bound activity. Since mid-May, the index has been oscillating in a tight consolidation zone between 25,307 to 24,575 levels, suggesting a lack of clear directional bias among market participants. Notably, during these 31 trading sessions, the price action was characterized by frequent gap-up or gap-down openings, indicating elevated overnight volatility driven by trade war concerns, the escalation of war in the Middle East, and institutional flows. However, despite these volatile starts, the intraday moves largely lacked sustained momentum, reflecting traders' hesitancy to commit in either direction. ADVERTISEMENT However, on the expiry day, the Nifty futures finally staged a decisive breakout from this prolonged consolidation phase and ended the June series above the 25,500 mark, registering a healthy gain of 2.69%. This breakout not only signals a potential shift in short-term sentiment but also sets a positive tone for the July series. From a derivatives perspective, the rollover of Nifty Futures increased to 79.53% in June, slightly higher than May's 79.10% and also above the three-month average of 79.24%, indicating continued participation and positioning by traders heading into the new number of shares rolled surged to 162 lakhs compared to 149 lakh last month. However, the rollover cost dipped to 0.25%, below the three-month average of 0.43%. ADVERTISEMENT Bank Nifty Futures traded in a narrow 1,800-point range during the June series, marking the second straight month of muted price action. However, it gained momentum on the expiry day, closing above 57,200 with a 2.48% gain. From a derivatives standpoint, the rollover of Bank Nifty Futures declined to 75.75% in the June series — a noticeable drop compared to May's 79.29% and also below the three-month average of 76.70%. This suggests a relatively cautious stance among traders and possibly a lighter carry-forward of positions into the July to this, the rollover cost dipped to 0.07%, significantly lower than the three-month average of 0.32%, reflecting a cautious rollover with limited aggressive long Nifty has been displaying notable strength lately, backed by a series of compelling technical indicators. Most prominently, the index has registered fresh all-time highs over the last two trading sessions—clearly outperforming the broader Nifty index, which remains nearly 2.5% below its own record high. This relative outperformance reflects strong sectoral leadership from banking stocks. A key bullish trigger has been the recent Stage-2 cup pattern breakout on the daily chart—a well-known continuation formation that typically precedes a strong upward trend. Furthermore, Bank Nifty continues to trade above all its crucial short-term and long-term moving averages, signaling well-supported price action. Momentum indicators such as RSI and MACD remain firmly in bullish territory on both daily and weekly timeframes, highlighting sustained strength and trend acceleration. In summary, the alignment of breakout patterns, moving average support, and strong momentum across timeframes suggests that Bank Nifty is likely to maintain its bullish trajectory. As per the measure rule of cup pattern, the upside target is placed at 59,000 level. While, on the downside, the zone of 56,800-56,700 is likely to provide the cushion in case of any immediate decline. They have now turned net buyers for the fourth consecutive month, signaling a steady return of confidence in Indian equities. This sustained inflow reflects their growing conviction in the strength and resilience of the domestic market, especially amid global uncertainties and policy in the derivatives segment, the FII long-short ratio in index futures has climbed to 38.43%, marking one of the highest levels seen in the recent past. A rising long-short ratio indicates that FIIs are increasingly building long positions—a bullish sign that suggests they are anticipating further upside in the near combination of consistent cash market inflows and a favorable derivative positioning reinforces the broader sentiment that FIIs are aligning themselves with India's structural growth story and short-term momentum. If this trend continues, it could provide further support to the market's upward trajectory. Nifty Private Bank, Nifty Financial Services, Nifty Oil & Gas, and Nifty Infrastructure have all registered horizontal trendline breakouts on the daily chart. This is a bullish development, indicating a shift from consolidation to potential upside momentum. Nifty Auto has given a downward sloping trendline breakout, another positive sign. The daily RSI is in the bullish zone and trending higher, reinforcing the likelihood of continued strength in this space. Nifty India Tourism is on the verge of breaking out from a symmetrical triangle pattern on the daily timeframe. All major moving averages and momentum indicators are aligned positively. A sustained move above the 9300 level could trigger a fresh bullish leg in the index. In addition to the above, Nifty Healthcare, Pharma, and Metal indices are also showing signs of relative strength and are expected to outperform in the near term, backed by improving price structures and momentum indicators Currently, the Nifty Metal is trading above its short and long-term moving averages, which is a bullish sign. Further, the daily RSI is in bullish territory, and it is in rising mode, which is a bullish sign. However, on Friday, the index has witnessed minor profit booking after reaching a high of 9,678. Going ahead, any sustainable move above the level of 9700 will lead to a sharp upside rally in metal space. APOLLOHOSP: On a daily scale, the stock has given an Ascending Triangle pattern breakout along with robust volume. Currently, the stock is trading above all the moving averages, and these averages are in rising mode. The Daily RSI has also given a 2-month consolidation breakout, which suggests pickup in upside momentum. Hence, we recommend accumulating the stock in the zone of Rs 7,320-7,280 level with a stoploss of Rs 7,080. On the upside, it is likely to test the level of Rs 7,750 in the short term. Technically, Hindustan Petroleum, HDFC Life, Ultratech Cement, ICICI Prudential Life Insurance, Indigo, Ambuja Cement, LT Foods, and Glaxo are looking good. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Hans India
5 hours ago
- Business
- Hans India
Benchmarks extend rally for 4th session; FIIs drive gains
Mumbai:Equity benchmark indices Sensex and Nifty advanced for the fourth straight session on Friday, supported by buying in blue-chips ICICI Bank and Reliance Industries amid fresh foreign fund inflows. A strengthening rupee against the US dollar and softening crude oil prices in international markets also boosted investor confidence, according to traders. The BSE Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settle at 84,058.90. During the day, it jumped 333.48 points or 0.39 per cent to 84,089.35. As many as 2,251 advanced, while 1,760 declined and 154 remained unchanged on the BSE. On the similar lines, the 50-share NSE Nifty rose 88.80 points or 0.35 per cent to 25,637.80. On the weekly front, the BSE benchmark surged 1,650.73 points or 2 per cent, and the Nifty climbed 525.4 points or 2 per cent. 'Benchmark indices Nifty and Sensex closed on a firm footing on Friday, capping off the week with robust gains. The rally was underpinned by de-escalation in geopolitical tensions post the Israel-Iran ceasefire and growing optimism surrounding a prospective US-India trade pact, which acted as key macro tailwinds. On a weekly basis, both frontline indices logged gains of 2 per cent,' according to Bajaj Broking market commentary. From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers.
