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Indias headline indices fell sharply on Friday amid significant selling pressure in export facing sectors like pharma, IT and auto stocks as Trumps 25% tariff scare on India mounts. Nifty witnessed another sharp decline as it failed to reclaim the 200-DMA on the hourly chart, despite a strong recovery on Thursday.Commenting on the days action, Rupak De, Senior Technical Analyst at LKP Securities said that the index remained below the 50-EMA on the hourly time frame throughout the day. On the daily chart, it has broken below the recent consolidation support at 24,600. Sentiment remains weak, with the potential for the correction to extend towards 24,40024,450. A further decline is likely if it slips below 24,400; otherwise, a recovery can be expected. On the higher side, resistance is seen at 24,60024,650 and 24,850, De said.Here are 2 stock recommendations for Monday:
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In a move to tighten oversight, China has intensified its regulations surrounding state employees. New travel curbs have been introduced, requiring officials to hand over their passports. Authorisation is now mandatory for any international travel. Furthermore, certain roles are now off-limits to those with overseas education.
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A 25-year backtest of RSI strategies across Indian indices reveals that long-only approaches yield promising results, particularly the RSI 30-70 reversal method for patient investors. Active traders may find faster RSI strategies beneficial for capital rotation. While not a magic formula, RSI proves useful when integrated into a broader, well-defined trading strategy.
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