Nifty Financial Services Hits New High – Trend Continuation or Pause Ahead? - 05.04.2025
Nifty Financial Services Hits New High – Trend Continuation or Pause Ahead? - 05.04.2025
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Key Factors Affecting & Reasons:
- RBI's accommodative stance is boosting investor confidence in the financial sector.
- Strong quarterly earnings from major banks and NBFCs have strengthened the sector’s outlook.
- Continued FII and DII inflows support overall market momentum.
- Rate cut expectations in upcoming monetary policy could further lift sentiment.
Key Watch:
- Resistance at 24,774 (new all-time high); immediate support around 22,500.
- Monitor upcoming earnings from major financial institutions.
- Keep an eye on global bond yields and domestic macro data.
Volume Analysis:
- The recent breakout was backed by high volumes, indicating strong buying interest.
- Slight volume tapering observed post-breakout — potential for short-term consolidation.
- Volume spikes near support/resistance zones can signal breakout or reversal.
Dow Theory Chart Analysis & Observations:
- The index is in a clear long-term uptrend with higher highs and higher lows.
- Price remains above the 50, 150, and 200-week moving averages — strong bullish structure.
- RSI is at 61.55 — bullish, with room before becoming overbought.
- MACD remains positive with a bullish crossover.
- ADX at 13.41 indicates a trend is present but still not strongly directional.
Stocks to Watch:
- HDFC Bank
- ICICI Bank
- Bajaj Finance
- Axis Bank
- LIC Housing Finance
Market Insights:
Short-Term View:
- Consolidation likely between 23,000 and 24,500.
- Dips toward 22,500–23,000 could provide buying opportunities.
Long-Term View:
- Bullish trend intact; targets of 26,000–27,000 possible.
- Financial sector expected to continue outperforming if macro conditions remain favorable.
Disclaimer:
This content is for educational and informational purposes only and should not be considered financial advice. Please consult with a certified financial advisor before making any investment decisions.
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