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NIFTY Index Chart Analysis : WAIT AND WATCH

NIFTY Index Chart Analysis : WAIT AND WATCH


The equity markets are becoming increasingly nervous about their moves. The benchmark Nifty50 index has been trading trading in a less than 300 points’ range for the past seven weeks. Last week, the Nifty made a decisive lower low and lower high candle and since then it has been hovering around 20 DMA. The consolidation is already 29 days old. For the second time, the Nifty has breached a trend line support drawn in the consolidation zone. It is also sustaining below the rising trend lines drawn from April 22 on a daily chart and below another rising trend line drawn from March 2020 on a weekly chart.  

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DSIJ Mindshare

Do you know these auto and auto ancillaries stocks more than doubled in 2021 alone?

After having traded negative in a three month period the BSE Auto index is up by over 3 per cent in one month and about 2.6 per cent in past one week alone.

Yogesh Supekar / Article rating: 4.0

In 2021 we find that several stocks from the auto and especially auto ancillary sector have more than doubled with the top gainer jumping higher by 301.32 per cent in 2021 alone.

Multibagger Alert: These Finance Sector Stocks have gained up to a whopping 3330.77 per cent in 2021 alone!

Some of the financials that outperformed the markets have turned out to be multibaggers with the top gainer Flomic Global Logistics jumping higher by a whopping 3330.77 per cent in 2021 alone.

Yogesh Supekar / Article rating: 3.3

The leveraged businesses considered most risky, however are seen making a strong comeback with Nifty Bank trading at all time highs. It is in fact the BFSI segment that took the markets higher in the week gone by.

These Textile stocks gained up to 29.43 per cent in one week alone!

The week gone by saw several textile stocks outperform on bourses with some of the top gainers soaring by ~30 per cent. 

Yogesh Supekar / Article rating: 3.7

Next week however promises to be a challenging time for the textile sector stocks as there are unconfirmed reports of GST being increased on garments. GST increase reports if true and weak market sentiment may act as a dampener for textile sector in coming week.