Indices View–Nifty, Bank Nifty, Nifty IT , Nifty Metal, Nifty Pharma, Nifty Smallcap, Bse Smallcap

A look through the various indices and how they are shaping up.

 

Nifty – Bounces from recent breakout point. Still open for fresh highs.

 

Nifty Technical View

 

Bank Nifty – From underperformance to outperformance finally.

 

Bank Nifty technical view

 

Nifty IT – Range bound or a breakdown is coming ? A classical double top if it breaks and sustains below 34500

 

Nifty IT technical view

 

Nifty Metals – Trend up but False Moves. Changes down only below 5200-5300.

 

Nifty Metal Technical View

 

Nifty Pharma – Range bound move continues. Below 13500 a negative.

Nifty Pharma

 

Nifty Mid 100 – A standard correction. It may no more be All stocks go up when index goes up. Moves will be very selective.

 

Nifty Mid 100

 

Nifty Smallcap 100 – Just a standard correction. It may no more be All stocks go up when index goes up. Moves will be very selective.

 

Nifty Smallcap

 

BSE Smallcap Index – A standard correction. It may no more be All stocks go up when index goes up. Moves will be very selective.

  Until now one could buy any stock on momentum and it would work. Time to be careful in stock selection.

 

BSE Smallcap Technical View

 

 

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1 Comment

  1. arindam
    October 29, 2021

    I am a bank nifty trader. I agree with your views on bank nifty. I think nifty IT and pharma will perform well in the coming days.
    What you think?

    Reply

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