Latest news with #WEMA
Economic Times
15-06-2025
- Business
- Economic Times
Nifty may hit 24,060 before recovery, IT breakout imminent: Geojit's Anand James
Following the sell-off seen in the last 2 days, what are the charts hinting at for the coming week? Do you fear more downside? Live Events How do you read the outperformance of IT stocks? Will the outperformance continue? Nifty PSU Bank index broke 4-week winning streak to end over 2% lower. As PSU banks and NBFCs are said to be bigger beneficiaries of the rate cut and liquidity easing cycle, do you see chances of positive momentum returning? Cochin Shipyard shares were one of the biggest losers in the week and ended around 10% lower. Any thoughts on this stock's trajectory? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Despite Friday's recovery attempt, technical charts are painting a cautious picture for Nifty in the coming week. Anand James, Chief Market Strategist at Geojit Investments Limited, believes the recent sell-off isn't over yet and expects the index to test the 24,060 level before any meaningful recovery takes it's not all doom and gloom. While broader markets face headwinds, James sees a major breakout brewing in IT stocks , with the sector poised to surge toward 40,300 levels as an inverted Head & Shoulders pattern nears an exclusive chat with ETMarkets, the market veteran shares his reading of the current technical setup, explains why PSU banks may struggle despite rate cut expectations, and reveals his top stock picks for the week excerpts from a chat:The lack of momentum early last week, along with longs continuing to constitute just 20% of FII's index future positions, despite Nifty trading above a multi-week consolidation range, was enough signal that there was no enthusiasm in chasing prices higher. However, the steep drop having stretched almost to the lower range of the May-Jun trading band looks to have attracted buying interest. That we are also near 1 standard deviation from the 20-day SMA is also a supportive factor. Meanwhile, though VIX rose 7.6% on Friday, it is still not at a level that is threatening a collapse. With this in perspective, we will continue to nurture upswing hopes, but believe that they will be short-lived, we are more likely to head to 24060 at least, before broad-based strength returns. Note that SMIDs which have been at the forefront of the upswing in the last four weeks, have shown signs of ongoing pullback that began in April appears to be gaining momentum and is likely approaching the final phase of a breakout from an inverted Head & Shoulders pattern on the weekly chart. The index is currently trading near its 50-week exponential moving average (WEMA), which continues to provide dynamic support. From a derivative angle, 60% of the IT stocks saw long buildup on Friday, and 70% saw long addition on a week-on-week basis. A robust green candle on the weekly chart, coupled with strengthening MACD histogram bars, signals growing bullish momentum. This setup suggests further upside potential in the coming weeks. We anticipate the index to advance towards 40,080 and 40,300 levels, driven by strong performances from key constituents such as Infosys, HCL Technologies, Tech Mahindra, and Persistent three consecutive sessions of decline, the Nifty PSU Bank Index staged a recovery on Friday, forming a strong bullish candle and closing above the 20-day moving average (DMA) at 6,918. This signals a potential short-term pullback toward the 7,000–7,025 range in the early part of next week. However, the weekly chart paints a more cautious picture. The formation of a bearish engulfing pattern, typically a reversal signal, combined with signs of momentum exhaustion in the SMIO histogram and 71% of the stocks witnessing Long unwinding from a derivative point of view on WoW basis, suggests that the rebound may be short-lived and could face resistance later in the week. From a broader perspective, as long as the index holds above the trendline support at 6,350, bulls may attempt to regroup around key support zones. The expected pullback is likely to be driven by strength in stocks such as State Bank of India, Bank of Baroda, Punjab National Bank, Union Bank of India, and Indian evening star pattern spotted in the previous week had set off a week-long downtrend that has now found buying from the 20 day SMA, which is now near 2048. That the SMA also coincides with the 61% fibo retracement of the 21May-6Jun upmove is another reason for the buying interest. Yet, we believe that the ongoing recovery move may not turn lower again after a brief bounce, aiming for the low 1700s. Alternatively, direct rise above 2350-2400 region could keep the uptrend running for a longer us your top ideas for the – BuyTarget – 224SL - 198The stock has been under pressure for the past five sessions but appears to have found support near the 50% Fibonacci retracement level at 201 (May low and June high). From this level, a recovery attempt is underway. On Friday, the formation of a Doji candle suggests indecision among traders, often a precursor to a potential reversal. Additionally, hourly MACD indicators are showing signs of exhaustion, pointing to a likely short-term pullback in the coming anticipate the stock to move toward the 224 level, with a protective stop-loss recommended below 198 to manage downside – BuyTarget – 400SL – 349Following a five-day decline, the stock has found support near the 61.8% Fibonacci retracement level at 367 (may low and June high), from where a recovery attempt is underway. The formation of an inverted hammer candle on the daily chart suggests a potential short-term pullback, often seen as a reversal signal when appearing after a the current setup, we anticipate the stock to move toward the 400 level in the coming weeks. To manage risk, long positions should be protected with a stop-loss placed below 349.
Yahoo
31-05-2025
- General
- Yahoo
FIirst responders engage in water rescue training
Joint water rescue training by the Lebanon Fire Department, Mt. Juliet Fire Department and Wilson County Emergency Management Agency occurred this week across two days. Tuesday, May 27, and Wednesday, May 28, saw the training between the Jimmy Floyd Center and Stones River near the Percy Priest Dam for hands-on, in-the-water practice. According to the agencies, training focused on victim rescue, rope and non-rope throw bag techniques, boat flipping and water entry. 'These skills aren't just good to know, they're required,' WEMA said. '[Tennessee Emergency Management Agency] mandates that these competencies be demonstrated annually for members to stay eligible for EMAC (Emergency Management Assistance Compact) deployments.' With the training, the agencies say they're ready in case of a water-related emergency response. 'Training together like this ensures our departments can work together in any emergency situation,' WEMA said. Rehab 23 also attended the training to provide hydration and food for the first responders as they trained. With the amount of rain Middle Tennessee has seen this year, including localized flooding, this training is even more necessary, according to WEMA.
Yahoo
29-05-2025
- Climate
- Yahoo
Wilson County EMA, fire departments hold swift water rescue training
WILSON COUNTY, Tenn. (WKRN) — We've seen our fair share of rain this spring, which is why Wilson County rescue teams are making sure they're prepared for swift water emergencies. On Wednesday, multiple agencies held a joint training, and News 2 was there. 'We've got Wilson County EMA, Lebanon Fire Department, Mt. Juliet Fire Department all here,' Maegan Eldridge, PIO and administrative for Wilson County EMA, said. Wednesday morning, multiple crews in Wilson County were training for real-world water rescue scenarios. 📧 Have breaking news come to you: → 'They are doing anything from boat flipping, to rescuing victims to self-rescue to rescuing with and without a rope bag and its multi-agency because when it comes to an emergency we want to work with all of our agencies to work quickly and effectively to be able to respond as quick as possible,' Eldridge said. During the springtime, Wilson County EMA said they see more swift water rescue calls. 'A lot of times we get flash floods where cars drive into flooded waterways,' Colton Young, Lieutenant with Wilson County EMA said. Lieutenant Young said a newer tool, WEMA, has been used for people who may be stuck in water on the roadways. 'We can quickly inflate these and deploy in ten minutes to rescue someone.' However, during the summer, the concern can be on Middle Tennessee's lakes and rivers. 'Wilson County has about 58 square miles of lake,' Young said. ⏩ So far this year, six deaths have been reported on Tennessee waterways. This Memorial Day weekend, Wilson County EMA said, thankfully, there were no reports of water rescues. However, this is the message they continue to send out. 'A life jacket is going to save your life, and if you don't have it on, there is nothing that's going to happen. Life jackets are extremely important. Anyone going out on the water, please use a jacket,' Eldridge said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Business Standard
08-05-2025
- Business
- Business Standard
Top stocks to buy today, May 8: Marico, Manappuram Finance on analyst radar
Markets remained volatile but managed to close slightly in the green amid mixed signals. Geopolitical tensions, following India's military response to a terrorist attack, triggered a gap-down opening. However, a swift recovery helped the indices edge higher by the close. As a result, the Nifty index settled at 24,414.40, up 0.14%. Sector-wise, the trend was mixed—auto, realty, and metal sectors posted gains, while pharma and FMCG ended in the red. Broader markets also recouped intraday losses and closed with gains of over a percent. Looking ahead, domestic uncertainties are expected to continue driving volatility. However, stable global cues and sustained FII buying are helping to delicately balance the market despite geopolitical risks. All eyes are now on the US Fed, and markets are likely to react to the FOMC meeting outcome and commentary in early trades. On the index front, Nifty is attempting to hold the 24,100 level; a breach could lead to further downside towards 23,800. Until then, the index is expected to trade within the 24,100–24,600 range. In the current scenario, traders are advised to adopt a cautious approach and avoid aggressive positions until the market stabilizes. Marico has been trading in a steady uptrend and is currently hovering near its record high. The stock has formed an elevated base above the neckline of its previous consolidation zone, setting ground for the next leg of up move. The steady rising structure with supportive volumes, signals an inherent strength in price. Traders can consider long in the mentioned range. Samvardhana Motherson International Limited |LTP: 142.46| Buy | Target: 153| Stop-loss: 137 After experiencing significant correction from its all-time high, the stock found support around its 200 WEMA and bounced back strongly. It has formed a small base near its short term moving average creating a fresh pivot. The volumes have been robust during this rebound suggesting buying interest from lower levels. We expect this recovery to strengthen further and hence longs can be created in the mentioned range. Manappuram Finance Limited | LTP: 230.69| Buy | Target: 248| Stop-loss: 222 Manappuram has registered a breakout from a multi-year cup and handle pattern, which is a bullish continuation formation. However, post breakout, the stock turned sideways trading in a tight consolidation range. In the process, it has formed a sturdy base above the pattern neckline, setting ground for resumption of uptrend.
Economic Times
30-04-2025
- Business
- Economic Times
Marico leading the FMCG pack; likely to hit fresh record highs
'Marico has maintained its positive bias despite the broader market correction, forming a higher base after retesting support near its medium-term moving average, the 100-day WEMA. Traders can buy for a target of Rs 770 in the next 1-2 months,' Ajit Mishra – SVP, Research, Religare Broking Ltd. Show more 05:11 01:20 06:15 04:41 01:12 03:05 05:06 05:55 02:01 05:51 02:23 04:36 01:18 06:25 06:03 05:04 01:46 06:42 01:19 07:02 01:28 04:47 06:21 03:20 03:19 05:40 05:13 04:34 01:32 04:53 01:16 04:00 01:40 03:53 06:11 08:00 01:47 05:43 05:14 01:41
