Where is Nifty heading? | CA Rachana Ranade

"looks like a cup and handle pattern and on a monthly time frame though looks yes and it has also like I said it has given a breakout retest and now it is bouncing"

"it has gone above the 4700 mark and it has stayed there for three days back to back okay and uh if it is able to stay above this then as per the cup and handle pattern this is what you can see can can see a good move"

"this has been a multi-year range breakout that the stock has given right now and we had discussed this as a women's day special stock why because I said that many women typically fear investing in stock market reason being very simple that stock market is is volatile in the short term and then then you know automatically that fear comes in but I had discussed this talk because I said it's a good dividend paying stock at least some income you'll get from uh this stock on a regular basis but other than dividend have a look at this since March till August 85 percent up"

"absolutely as per the technical analysis cup and handle pattern we say that from the bottom point of the cup to the neckline that distance gets added to the neckline correct and then as per this 987. definitely looks strong added to your watch list"

"C info systems it has given a breakout above this upward limit but it's not it's not convincingly staying about that so it'll be interesting to watch What Happens but ideally it is a flag pattern plugin Port button so it'll be interesting to watch"

"at least has gone up let me just check one more time ltts on a daily pattern I'll just close this has broken out of its range I'll just show at in fact in my technical analysis Marathi course I had given the example of ltts I'll share that same thing"

"and second one is rail tail or wheat rail tail wait irfc foreign at around 30 Something level it's very painful you know but anyways this is more of Just Around uh it's not a rounding but bottom I think I should give this a name because I can see such patterns in many stocks but whatever has been seeing so a downfall consolidation back to this level and if that be so possible 192 could be a possible thing"

"Deepak united target double bottom one weekly chart always feel amazing you know when everyone directly tells me double what number weekly chart check the perfect nitrate weekly but it has not broken uh the neckline right so will be interesting to see if it is closing above that or even this is a good one"

"Nifty has been in this band for almost what now almost four or five months and if that channel is we are not able to get inside that channel within a day or two that brings a little bit of question marks into my mind so this one doesn't show signs of positiveness still the trend has not been broken as such but yes these are some early signs of weakness is what I can surely say"

"So based on pivot 19328 is one but 50 days moving average is also considered as a good level for support I'm sure 200-day moving average is going to be very lower so it makes no sense discussing this level right but nine 50 days moving average comes to 19 239 so I can say somewhere between see nineteen thousand two thirty nine and ninety thousand three twenty nine so this range of let us say 19 to 50 to 19 350. again I'm repeating nineteen thousand two fifty I'm just you know trying to round it off a little bit ninety thousand two fifty to nineteen thousand three fifty seems to be the immediate next support"

"RSI has been going down and down and out and right now it is at around 52 levels but again still sloping a shade downwards so all in all if you ask me nifty is not in a very happy mood right now I can say maybe it is wanting to consolidate and in fact I will say that is a good sign"

"From this level if I just want to see where are we right now it's a 2.2 percent correction correct 2.2 is nothing two to five in five percent is also not like crazy but two three percent here and there is very normal so it's a healthy correction let it consolidate let it form some good base and then I think moving on to the next Target makes much more sense so happy with this healthy correction is what I can say"

"Here you can see highest open interest is at 19 600 so seems that there can be a resistance at nineteen thousand six hundred one lakh six thousand nine ninety eight open interest here eighty three thousand one sixty is the change in oi so that's a big one and uh so 19 600 seems to be tough back okay now here on on the support side you can see nineteen thousand five hundred seems to be some sort of support but not I mean it's not as great as this one"

"For the monthly analysis what I can see is that maybe we may stabilize around the 19500 mark but as of now so that is a monthly view that I'm saying based on option shape 19500 seems to be a place where we may stabilize but in the shorter term I feel that it could be a little bit of correction a little bit of consolidation is what we can see as per the technical analysis"

"it is felt that yes inflation May stabilize around four percent is what the overall meeting sounded like right one point that they have mentioned is that yes they believe that overall projection for inflation if that is to be considered right now so full Financial year 23 24 inflation is expected to be around 5.4 percent and we have said this so many times right somewhere between so four percent is a target inflation plus or minus two percent is the range and entire Financial year 23 24 it is expected that inflation would be around five point four percent"

"RBI Governor today said that we are coming up with icrr is incremental cash Reserve ratio and he said that banks will have to maintain an additional 10 percent of the ndtl ndtl is basically net demand and time liabilities between 19th May 2023 and July 28 2023"

"Consumer prices in China have declined by point three percent in July 2023 so deflation in Chinese economy is is not considered as a good one it can have an adverse impact on the Chinese economy it can lead to unemployment it can it can reduce investments in China but of course not a very bad I mean if if it's bad for the Chinese economy somewhere we are like okay China plus one hum Hannah so that that can be a positive sentiment for us as well"

"finally nclt has approved the merger of Z entertainment and Sony Pictures networks India and because of which Z entertainment is up by 16.5 today"

"This is a small cap but it is into a very interesting space and a company is basically into Technology based stuff which is you know related at so basically I can say in one sentence is that they they they they're taking the travel experience of air travelers to a different level"

"he said that if you are wanting to invest in PSU stocks then they have a promising future"

"long long rounding bottom is what I can say interesting I'll share my screen uh uh uh see if you see this this is 2018 2018. and uh from here for most of five year this is this can be an example of rounding bottom more the merrier five years is is a decent enough one"