Tech indicators point to continued market weakness amid India-Pakistan conflict

Most method indicators constituent to continued marketplace weakness amid the India-Pakistan conflict. Analysts accidental sentiment is improbable to amended unless some nations adhere to projected cessation hostilities, and the Nifty reclaims 24,500. Immediate enactment is seen astatine 23,800, with a further cushion astatine 23,500. Analysts urge comparatively safer bets successful prime stocks specified arsenic ICICI Bank, Kotak Bank, Home First Finance, SBI, HUL, BEL, SRF, Nykaa, Samvardhana Motherson, and Titan.

MEHUL KOTHARI

AVP - TECHNICAL RESEARCH, ANAND RATHI SHARES & STOCK BROKERS

Where is Nifty headed this week?
Nifty’s caller correction was broadly anticipated. While the autumn itself wasn’t a surprise, the geopolitical trigger adds a furniture of concern. Technically, the scale has formed a bearish engulfing signifier connected play chart, suggesting much downside unless it reclaims 24,500. In the abbreviated term, 23,800 acts arsenic contiguous support, followed by 23,500, which aligns with the 200-EMA. If these levels are breached, the bearish momentum whitethorn intensify. On the flip side, if Nifty moves supra 24,500 and Bank Nifty reclaims 55,000, the broader inclination could stabilise, offering a short-term alleviation rally. Until then, volatility whitethorn persist.

What could investors do?

With some Nifty and Bank Nifty investigating captious support, traders should stay cautious. Long positions are lone advisable supra 24,500 successful Nifty and 55,000 successful Bank Nifty, with protective puts. Short trades whitethorn beryllium considered connected a interruption beneath 23,800, targeting 23,500 and lower, portion Bank Nifty shorts whitethorn oculus 52,600 if 53,500 breaks. Investors tin see staggered accumulation adjacent Nifty astatine 23,500 and Bank Nifty astatine 51,800–52,600, but should summation vulnerability lone connected wide spot supra cardinal resistances.

SACCHITANAND UTTEKAR
VP-TECHNICAL & DERIVATIVES, TRADEBULLS SECURITIES

Where is Nifty headed?

Nifty appears to beryllium entering a signifier of clip and terms correction, with the scale present struggling to decisively surpass the cardinal absorption level of 24,545. This week marks the archetypal adjacent beneath caller play plaything debased of 24,008, signalling imaginable short-term weakness, though the scale inactive managed to clasp supra its 5-week EMA enactment astatine 23,860. Trend spot indicators specified arsenic ADX falling beneath 18 and RSI heading toward the neutral 50 people further enactment the likelihood of an ongoing corrective phase.

What could investors do?
For momentum traders, it is advisable to debar chasing breakouts and alternatively hold for a confirmed adjacent supra 24,545. Should the ongoing correction deepens, investors tin presumption it arsenic a staggered accumulation opportunity. Key enactment levels to ticker see the 20-week EMA adjacent 23,540 and the 22,900 zone, which represents a captious play support. These levels are apt to uphold the broader bullish structure. Top picks are ICICI Bank, Kotak Bank, Home First Finance, SBI, HUL, BEL, SRF, Nykaa, Samvardhana Motherson, and Titan

DHARMESH SHAH
HEAD OF TECHNICAL, ICICI SECURITIES

Where is Nifty headed this week?
Nifty snapped a three-week winning streak tracking escalated geopolitical hostility and settled the volatile week astatine 24,008, down 1.4%. The heightened geopolitical hostility fuelled the volatility successful the market. We expect Nifty to consolidate successful the broader scope of 24,500- 23,200, wherein stock-specific enactment would prevail amid the ongoing net season. Meanwhile, the de-escalation of equipped struggle would beryllium the cardinal monitorable arsenic it would unfastened the doorway for the adjacent limb of up-move.

What should investors do?
We counsel not to panic but alternatively physique prime portfolios from a medium-term perspective, arsenic beardown enactment is placed astatine 23,200. Further, persistent FPI inflow, a bilateral Trade Agreement betwixt India and the US would supply cushion to the market. We stay constructive connected BFSI, IT, defence and textile. Hence, dips should beryllium utilized arsenic a buying accidental successful prime stocks with beardown earnings.