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Nifty 50 is sustaining above one year breakout line hence we expect major short covering above 17800 with immediate target of 18600.
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Any gap up opening above 17800 should be seen as a ‘breakaway gap’ for current consolidation with a minimum target seen at 18600 in a matter of 4-5 trading sessions.
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The continuous fall in India VIX has provided put writing support for Nifty 50 Index and we expect today’s closing to occur around 17700.
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With the motive to curb inflation, RBI announced yet another repo rate hike on 30th September 2022. Since banks have passed on this burden of increased interest rates towards the consumers, it has drastically affected people who have taken home loans or are paying EMIs.
But with the increasing interest costs what should loan holders be expected to do?
Our finance expert guide you through the entire interest rate scenario and explain everything you need to consider before taking a loan.
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Important stocks which may provide necessary booster for rally in Sensex 30 index are Reliance Industries and Axis Bank which are positioned for 25% rally in the near term.
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The two-week high for Nifty 50 was taken out convincingly, which may trigger further rounds for short covering to force Nifty towards 18000.
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For today’s trading session, watch out for two weeks high of 17428 above which, we may see Nifty 50 testing 18000 immediately.
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The spread of the Nifty 50- Nifty 500 Index surged by 86 pts to 2370. The weekly chart of the spread indicates a major breakout at 2420 with a potential target of 3200 which ensures that the next rally will be driven by Nifty 50 stocks and may provide the necessary push to help Nifty reach the target of 19867.
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With expectation of gap up opening in SGX Nifty, a move above 17235 should be seen as a breakout from ‘Broadening Descending wedge’ which projects immediate upside towards 18800 and may trigger a major short covering in the coming days
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Mutual funds have gained immense popularity among people who wish to invest in the equity market. However, with limited expertise, it could be confusing to make a choice between the two plans i.e. Direct mutual fund and regular mutual fund.
Here’s our market expert helping you understand the overall difference between direct mutual funds and regular mutual funds.
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