Latest news with #MovingAverage
Mint
5 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 6 ahead of RBI policy
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a tepid note Friday amid mixed global market cues and ahead of the RBI policy today. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 24,841 level, a discount of nearly 20 points from the Nifty futures' previous close. The Reserve Bank of India (RBI) Governor Sanjay Malhotra will announce the monetary policy decision today. The RBI's Monetary Policy Committee (MPC) is likely to deliver a 25 basis points (bps) repo rate cut to 5.75% from 6%. On Thursday, the domestic equity market indices ended over half a percent higher each, with the benchmark Nifty 50 closing above 24,700 level. The Sensex gained 443.79 points, or 0.55%, to close at 81,442.04, while the Nifty 50 settled 130.70 points, or 0.53%, higher at 24,750.90. Here's what to expect from Sensex, Nifty 50 and Bank Nifty ahead of RBI monetary policy today: Sensex formed a reversal formation on daily charts and is currently trading near the 20-day SMA (Simple Moving Average). 'We believe that 81,000 would act as a key support zone for traders. As long as Sensex is trading above this level, the bullish sentiment is likely to continue. On the higher side, the index could move up to 82,000 - 82,200. However, a breakdown below 81,000 could change the sentiment. Below this level, Sensex could retest the levels of 80,700 - 80,500,' said Shrikant Chouhan, Head - Equity Research, Kotak Securities. Nifty Open Interest (OI) data shows the highest concentration on the call side at the 24,800 and 25,000 strike prices, indicating strong resistance at these levels. On the put side, significant OI build-up is observed at the 24,700 and 24,500 strike prices, marking these as key support zones, said Hardik Matalia, Derivative Analyst at Choice Broking. Nifty 50 ended the session at 24,750.90, advancing 0.53%, after staging a sharp intraday recovery from lower levels. Although the index encountered profit-booking near the higher band of the recent range, it managed to hold firm and closed the day with respectable gains. 'Nifty 50 formed a small-bodied candle with equal-length wicks on both ends, highlighting the tug of war between bulls and bears. Nifty 50 holds above its 9-day and 20-day exponential moving averages (EMA), indicating that the short-term setup remains positive. Broadly, the index remains in a narrow consolidation phase. A sustained move above the 24,900 mark could act as a trigger for renewed upward momentum,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, on the downside, immediate support is placed at 24,600, followed by a more critical cushion near 24,550. Until a breakout materializes, the index is likely to oscillate within this defined range, with a mild bullish tilt. Dr. Praveen Dwarakanath, Vice President of said that the Nifty 50 formed a doji candle well within its range of 24,500 and 25,100 levels. 'The index bounced from the 24,500 level, indicating strong support at this level. The higher time frame momentum indicators are also decayed down and do not show clear signs of a rally. The open interest data for next week's expiry also shows a sideways move; however, the index may pick the direction based on today's RBI policy meeting,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, Nifty 50 formed a High Wave Doji candlestick pattern on the daily timeframe, reflecting a sense of indecision in the broader market. 'The index's 20-day MA emerged as a crucial support level while it traded within the 24,300 to 25,000 range. Amid these, the RBI's policy announcement could act as a major trigger, as the anticipated rate cut is expected to increase liquidity in the market. Nifty 50 could trade within a wide range in today's session. Additionally, we can expect Nifty 50 to find support between 24,540 and 24,430 and experience resistance near 24,920, 25,000, and 25,150,' Ambala said. Bank Nifty ended 84 points, or 0.15%, higher at 55,760.85 on Thursday, continuing to trade within a narrow range that has held for the past several weeks. 'Bank Nifty index formed a second doji candle with small shadows on either side highlighting consolidation ahead of the RBI monetary policy outcome today. The Bank Nifty index is currently placed at the upper band of the last 6 weeks consolidation range 56,000 - 53,500. We believe a closing above the 56,000 area will signal extension of the up move towards the 56,700 zone in the near term. Failure to do so will signal extension of the last five weeks' consolidation,' said Bajaj Broking Research. The short-term structure remains constructive with immediate support is placed at 55,000 – 55,200 levels, while key short-term support is seen at 54,000 – 53,500, which coincides with the 50-day EMA, key Fibonacci retracement levels, and the lower end of the established five-week consolidation band, it added. Om Mehra believes that while price action remains muted, the broader trend still favours the bulls, supported by a sequence of higher highs and higher lows. 'Bank Nifty index is trading above all major moving averages, and the ascending triangle visible on the daily chart suggests the potential for an upward push. A close above 56,162 could open room for a fresh leg of gains. As long as the Nifty Bank holds 55,300, the overall trend remains positive,' Mehra said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
6 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 5
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Thursday, tracking mixed cues from global markets. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,740 level, a premium of nearly 11 points from the Nifty futures' previous close. On Wednesday, the domestic equity market indices ended higher, snapping their three-day losing streak. The Sensex rose 260.74 points, or 0.32%, to close at 80,998.25, while the Nifty 50 settled 77.70 points, or 0.32%, higher at 24,620.20. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex is still trading below the 20-day SMA (Simple Moving Average) of 81.300, which is largely negative. 'We believe that the current market structure is non-directional, and the intraday formation indicating range-bound activity is likely to continue in the near future. For traders, the key levels to watch are 80,500 and 81,300. A move above the 20-day SMA or 81,300 could see the Sensex rallying toward 81,500 - 81,800. Conversely, a dismissal of 80,500 could accelerate selling pressure, with the index potentially slipping to 80,100 - 80,000,' said Shrikant Chouhan, Head – Equity Research, Kotak Securities. Nifty 50 witnessed modest upside bounce on June 4 and closed the day higher by 77 points amidst range movement. 'A reasonable bullish candle was formed on the daily chart on Wednesday, that was placed beside the long bear candle of previous session, which is indicating an attempt of upside bounce in the market. Nifty 50 is currently placed within a broader high low range of 24,500 - 25,000 levels and is currently in an attempt of upside bounce from near the lower end of range,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. He believes the underlying trend of Nifty 50 remains choppy, and further upside above the hurdle 24,850 levels could bring bulls back into action. Immediate support is placed at 24,500 levels. Bajaj Broking Research said that the Nifty 50 formed a small bull candle which remains enclosed inside previous session price range, signaling consolidation amid stock specific action ahead of the weekly expiry session on Thursday. 'Buying demand is seen emerging around the lower band of the last 16 session range 24,400 - 25,080, we expect the index to extend the consolidation ahead of the RBI monetary policy outcome on Friday. The zone around 24,400 – 24,500 serves as a crucial support area, aligning with the previous breakout zone, recent swing lows, and key Fibonacci retracement levels of the prior uptrend. A decisive break below this 24,400 – 24,500 support band could lead to a sharper decline,' said the brokerage firm. On the upside, the index faces stiff resistance near 25,050 – 25,080, where the previous two weekly highs have converged, creating a short-term resistance ceiling, it added. According to VLA Ambala, Co-Founder of Stock Market Today, Nifty 50 index formed an inside bar or bullish Harami candlestick pattern on the daily timeframe, with its RSI at 52- and the 20-day EMA. 'This technical development indicates a potential upward momentum. We could expect Nifty 50 to trade between 24,300 and 25,000 during the middle of the week. For Thursday's weekly expiry, Nifty 50 could find support between 24,500 and 24,370 and face resistance near 24,730 and 24,800 for the next trading session.' Bank Nifty index rose 76.90 points, or 0.14%, to close at 55,676.85 on Wednesday, forming a doji candle with small shadows on either side, highlighting consolidation ahead of the RBI monetary policy outcome on Friday. 'Bank Nifty index on the Tuesday session reacted lower from the upper band of the last 5 weeks consolidation area 56,000 - 53,500. We believe only a closing above the 56,000 area will signal extension of the up move towards the 56,700 zone in the near term. Failure to do so will signal extension of the last five weeks' consolidation,' said Bajaj Broking Research. It believes the short-term structure remains constructive with immediate support is placed at 55,000 – 55,200 levels, while key short-term support is seen at 54,000 – 53,500, which coincides with the 50-day EMA, key Fibonacci retracement levels, and the lower end of the established five-week consolidation band. Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities said that the Bank Nifty index remains mildly bullish, holding above its short-term moving average. 'However, price action continues to lack momentum, with buyers hesitating to chase highs ahead of the RBI monetary policy outcome later this week. This upcoming event is likely to act as a catalyst for directional resolution, potentially bringing sharp moves and volatility spikes. Unless the index decisively breaks below 55,300, the overall structure favors buying-on-dips, and the downside risk appears limited for now,' Dhameja said. According to him, a sustained move above the resistance of 56,150 could attract aggressive buying interest, but until that happens, the range trading strategy may remain valid. 'In conclusion, Nifty Bank is poised at a crucial juncture, with technical levels clearly defined. Traders are advised to stay nimble, as any policy-induced surprises could tilt the balance sharply in either direction,' added Dhameja. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
01-06-2025
- Business
- Hans India
Trade setup June 2: Sensex turns negative, forms small bearish weekly chart candle
Domestic equity markets ended the week on a cautious note, with the BSE Sensex closing 182 points lower at 81,451.01 on Friday. The index slipped into negative territory amid losses in metal, IT, and auto stocks, although banking shares lent some support. Market sentiment stayed muted as investors remained wary of global trade developments, especially after a US court upheld former President Trump's tariff policies. According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the Sensex is currently showing signs of weakness on intraday charts and has formed a small bearish candle on the weekly chart — a sign that the market could remain range-bound in the short term. Key Levels to Watch on Monday (June 2): Support: 80,900 (also the 20-day Simple Moving Average) Resistance: 82,200 As long as the Sensex remains within the 80,900–82,200 range, a sideways trend is expected. However, a breakout above 82,200 could trigger a move towards 82,900, and potentially even 83,700. On the downside, a break below 80,900 may push the index down to 80,300 or even 79,800, Chouhan cautioned. Looking ahead, market focus will shift to the upcoming RBI Monetary Policy Committee (MPC) meeting. With inflation currently under control, analysts believe the central bank may consider measures that support economic growth. Disclaimer: This article is intended for informational purposes only and should not be taken as financial advice. Investors are advised to consult certified professionals before making any trading or investment decisions.
&w=3840&q=100)
Business Standard
26-05-2025
- Business
- Business Standard
Sensex, Nifty favourably placed; these levels may shape market this week
Stock market weekly outlook: Technical charts indicate that the bias for the Sensex and Nifty is likely to remain positive as long as the indices sustain above 80,250 and 24,380, respectively. Rex Cano Mumbai Listen to This Article Even as the BSE Sensex ended roughly 600 points lower last week, the recovery from mid-week lows and a strong finish on Friday has led to an advantageous position to the bulls versus the bears. The Sensex hit an intra-week low at 80,490 levels, and eventually ended the week at 80,721. Similarly, the NSE Nifty 50 index bounced back after testing support around its 20-Day Moving Average (20-DMA). Going ahead, the near-term bias for Sensex is likely to remain positive as long as the BSE benchmark index sustains above 80,250 levels, and the Nifty above its 20-DMA, which
&w=3840&q=100)
Business Standard
21-05-2025
- Business
- Business Standard
How to trade Muthoot Finance stock as it tests 200-DMA support? Find out
Muthoot Finance stock has slipped nearly 9 per cent in the last one week after the gold loan lender reported its Q4 results on May 14. For the quarter ended March 2025, Muthoot Finance posted a 30 per cent rise year-on-year (YoY) in consolidated net profit at ₹1,477.70 crore as against ₹1,389.1 crore in Q4FY24. Consolidated revenue from operations increased by 35 per cent YoY to ₹5,621.7 crore from ₹4,163.8 crore. Further, Muthoot Finance reported its highest-ever consolidated loan Assets Under Management (AUM) at ₹1,22,181 crore, reflecting a 37 per cent Y-o-Y growth. The company had earlier declared a dividend of ₹26 per share for the financial year FY25. As per reports, the stock has been facing selling pressure off late after the Reserve Bank of India (RBI) with an aim to bring more transparency and control proposed new rules to streamline gold loan practices. The Central Banker has proposed a uniform Loan-to-Value (LTV) cap of 75 per cent to all gold loans. READ MORE Meanwhile, in a recent interaction with Business Standard, the Muthoot Finance's Managing Director George Alexander Muthoot said the proposed gold loan guidelines, if implemented in the current form, would increase compliance cost, especially for new entrants, since it will weigh on the average asset under management (AUM) per branch. Catch Latest Stock Market Updates Today LIVE Commenting on the future plans, George said the company's plans to slow its microfinance business amid stress in the segment and shift focus to gold loans where demand remains strong. READ MORE Amid the recent fall in share price, Muthoot Finance stock is once again seen testing its 200-Day Moving Average - a key support the stock has broadly held since May 2023. Can the stock once again succeed in respecting the 200-Day Moving Average (200-DMA) support or will it break below the same? As such, here's a technical outlook on Muthoot Finance for the likely upside potential or downside risk. Muthoot Finance Current Price: ₹2,065 Upside Potential: 5.6% Downside Risk: 9% Support: ₹2,023; ₹1,979 Resistance: ₹2,145; ₹2,163 On Wednesday thus far, Muthoot Finance stock was seen trading with a gain of 1.6 per cent at ₹2,065 levels, after testing the 200-DMA support at ₹2,023. Technically, the key momentum oscillators on the daily and weekly chart are hinting towards further pain for the stock. As such, break and sustained trade below the 200-DMA, can drag the stock towards ₹1,880 levels, with interim support anticipated around ₹1,979 levels. On the other hand, in case, the stock manages to hold above the 200-DMA, it can attempt a pullback towards its short-term - the 50-DMA at ₹2,180 levels, with interim resistance likely around ₹2,145 and ₹2,163 levels. The stock will need to break and trade consistently above ₹2,180 for the sentiment to turn favourable, suggests technical charts.
