Market Expert Vinay Rajani on the Current Market:
“We have seen selling pressure in midcap and smallcap segments. The Smallcap 100 index has formed a bearish engulfing pattern, which is a caution sign. Nifty is in an uptrend, and the immediate support is around 25,000 to 25,050. Although markets are down today, the overall trend remains bullish, trading above 20, 50, and 100-day averages.”
“As we enter the results season, choppiness will increase. Some stocks will perform, some won’t. Traders should focus on stop losses and outperforming sectors. Support at 25,000 to 25,050 is strong, but signs are negative for intraday trades today.”
Stock-Specific Ideas
“Torrent Power shows a reversal pattern after a healthy correction. It can be bought around 1,290 with a stop loss at 1,270, targeting 1,320 over the next few sessions.”
“REC shows a clear short buildup. October futures can be shorted around 369, with a stop loss at 375 and a downside target of 360. One long trade, one short trade.” Investors are advised to watch key support levels closely and trade with risk management, as volatility may rise during the results season.
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