Nifty continues to rise and is supported at 17400-17450 (KM Creator)

 

Nifty 2.27% last week, may continue its uptrend and test 

17,800 in a shortened week, according to technical analysts.

 The chart pattern shows strong support at the 17400-17450 level,

 with ITC, Axis Bank NSE 9.03%, ICICI Bank NSE 2.08%, Sun

 Pharma NSE -0.27%.

SBI SECURITIES: Technical & Derivatives Research Desk Head Sudeep Shah 

Where is Nifty going?

The Indian VIX, a volatility index, fell to the 17.4 level. Chart patterns suggest that the 17,400-17,450 zone will be a strong support going forward. We can see that this rally continues towards 17,850 to 17,950 until the index sustains above the 17,400 level. However, if the index falls below 17,400, the weakness could extend to 17,180-17,050. Optional data is 1..

What Should Investors Do?

The key event is the US Federal Reserve Board meeting on November 2nd, leading up to increased volatility in global markets. Therefore, traders are advised to place hedged bets and keep their leverage down. Investors should try to buy dips until his 17,300 level of Nifty's low is unbroken. We expect banks, defense, pharmaceuticals and IT stocks to outperform.

Pritesh Mehta Senior Vice President, Research, Yes Securities

Where is Nifty going?

In Friday's session, supply between 17,600 and 17,650 was a 61.8% retracement of the previous decline, with a triple-digit Gann number of 176 (00) and a red high bar formed on Sept 23. led to a daily high in the rebound. Momentum about it is essential. The index has struggled to break out to the upside, but the downward momentum is not strong, highlighting the impact of support. Adjusted Nifty spreads show 28% stocks have a bullish setup and the trend is down..

What Should Investors Do?

The Nifty PSU Bank Index hits new highs and breaks out of the month-long consolidation zone. The positive internal range indicates that PSU Bank continues to perform well. His Nifty ratio for PSU Bank is now a stone's throw from its February 2020 peak. Beyond this level, a new out performance is demonstrated. SBI, Bank of Baroda and Canara could rise 9-10% within the range. Meanwhile, the ratio of Nifty Auto to Nifty has retreated from the hurdle zone and is now trading below August...

DARMESH SHAH HEAD OF TECHNOLOGY、ICICI SECURITIES NSE-0.91 D44

Where is Nifty going?

Nifty formed a fairly bullish candle last week, suggesting a continuation of the positive trend. Reiterating its structurally bullish stance, Nifty expects it to gradually head towards 18,100 in the coming weeks, while the index expects him to test 17,800 in the next abbreviated week. Strong support is at level 17,300. Our stance is based on: b) India VIX continues to decline, indicating a low perception of its importance..

What Should Investors Do?

Investors should focus on buying good large- and mid-cap stocks in volatility when volatility is high. In particular, he will focus on BFSI, PSU, IT and Telecom where outperformance is expected. Favors SBI, Reliance Industries NSE -1.16%, Bharti Airtel NSE 0.57%, Infosys NSE -0.03%, Coal India NSE -0.95%..