As of 12:12 IST, the nifty 50 was up 0.13% at 25,136 .10, while the BSE Sensex Increased by 0.04% to 82,475.27. Analysts credited the Gains to Robust Purchases in Rate-Sensitive Sector, Particularly Financial Stocks, and Noted That That Key INDICATORS SUGGESTIL FURUNIL FURUNIL FURUNEL FURUTERE GAINS In Upcoming Sessionss.
Given the recent surge in the market, some Level of Profit-Taking is Expected. Nevertheless, Significant Liquidity is anticipated to encourage boying on dips, helping the market to stabilize and consolidate, according to analysts.
Riyank Arora sugges three stocks in the short term – IIFL Finance Ltd, Interglobe Aviation Ltd (IndiGo), and ICICI Lombard General Insurance Company Ltd. Check out his views on the overall market.
Market Views – Riyank Arora, Technical Analyst, Mehta Equites Ltd
Nifty 50
Nifty 50 is currently trading at 25,003, registered a strong intraday gain of over 250 points. The index has said entered a narrow consolidation phase between 25,070 and 25,142, and a breakout from this zone will be crucial to determine the next directional move. Momentum indicators like RSI and Macd Remain in Bullysting, Reflecting Continued Buying Interest. However, traders are advised to wait for a clear breakout Above Resistance or a Breakdown Below Support Before Initiating AGGRESSIVE POSTIONS. Buying on Dips Near the support zone remains a preferred strategy for positional traders.
Bank Nifty – Technical View
Bank nifty is trading at 56,578, up by 817 points, Showing Strong Positive Momentum. That Said, The Index Remains Range-Bound Between 56,800 and 57,050. A convincing breakout from this band will confirm a fresh trending phase. The rsi continues to exhibit strength, and the macD is nearing a bullish crossover. Until a breakout is seen, intraday traders may prefer a range-Play strategy, while positional traders can accumulate on dips with a stop loss beLow 56,500.
Shares to buy for short term
Riyank Arora recommends these three stocks in the short term – IIFL Finance Ltd, Interglobe Aviation Ltd (IndiGo), and ICICI Lombard General Insurance Company Ltd.
Iifl Finance | Buy | CMP: 487 | Stop Loss: 475 | Target: 525
IIFL Finance Share Price is Showing Signs of Breakout from its recent consolidation, supported by rising volumes and a firm price structure. The stock has formed a bullish base Around 475, which now acts as a key support. A move agreement 490 Cold Lead to a Swift Upmove Toward 525. Traders can initiate fresh longs with a stop loss at 475 for short-term gains.
IndiGo | Buy | CMP: 5,695 | Stop Loss: 5,640 | Target: 5,800
Indigo Share Price Has Resumed Its Upward Trend after a Brief Consolidation Near 5,600. The stock is trading about its key moving average with Bullym Momentum Intact. The rsi is holding in a positive zone, supporting the case for further UPSide. A sustained move Above 5,700 may lead to a test of 5,800 in the Near Term. Ideal for short-term traders with a defined stop loss.
ICICI Lombard General Insurance Company | Buy | CMP: 2,021 | Stop Loss: 1,980 | Target: 2,100
ICICI Lombard Share Price is Nearing a Breakout Above 2,025, a Level that has capted its recent advances. The Technical Setup Shows Rising Momentum with a Bully Macd Crossover Likely. Price is holding firmly Above Short-Term Averages, and a Breakout Cold Push It Toward 2,100. Traders may buy with a stop loss at 1,980 for a positional move.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.