- The Nifty FMCG index surged by 54.95 points (6.95%) over the past week, forming a marubozu bullish candlestick pattern on the weekly chart, which suggests that the index is currently in the control of bulls in last few sessions.
- On the daily timeframe, the RSI is gradually moving upward and is currently at 43.81, supporting the ongoing uptrend.
- Crucial monitoring levelsinclude resistance 858 and 890, while immediate support is placed at 804 and 780.
| Outperformers | Underperformers |
|---|---|
| PRESTIGE, LODHA | GODREJPROP , HUDCO |
NIFTY METAL
Date: 21-Apr-2025
- The NIFTY METAL Index started the week on a positive note,, and as the week progressed it maintained the gain and eventually advanced by 308.20 points (3.77%) on the weekly timeframe.
- The RSI stands at 46.42 on the momentum front, signaling positive momentum and suggesting further upside potential.
- Levels to note on the upside are 8650 and 9000, while on the downside, immediate support isseen at 8300, followed by 8000 mark.
| Outperformers | Underperformers |
|---|---|
| JINDALSTEL, HINDZINC | JSWSTEEL, NATIONALUM |
NIFTY FINANCE
Date: 21-Apr-2025
- The NIFTY FINANCE Index began the week on a positive note, and continued its upward throughout the week, ultimately closing with a sharp advanced of 1516.05 points (6.17%) on the weekly timeframe.
- The RSI stands at 68.67 on the momentum front, signaling negative momentum and suggesting further downside potential.
- Key levelsto watch are 26100 followed by 27300 on the upside while on the downside, support lies at 25500 followed by 25000
| Outperformers | Underperformers |
|---|---|
| IREDA, CHOLAFIN | MUTHOOTFIN, ICICIGI |
NIFTY AUTO
Date: 21-Apr-2025
- The index opened the week with a strong gap-up of over 2%, gaining nearly 824.45 points (4.01%) for the week. Sustained buying pressure from lower levels drove a gradual upward move, ultimately leading to a close at 21,373.10.
- From a technical perspective, the price is trading above the 100 EMAs, signaling strangeness in the ongoing uptrend. Additionally, the RSI stands at 44.35, above its moving average, indicating prevailing bullish momentum in the index.
- Key levelsto watch are 21550 followed by 22000 on the upside while on the downside, support lies at 21000 followed by 20500.
| Outperformers | Underperformers |
|---|---|
| MOTHERSON, MRF | MARUTI, EXIDEIND |
Sector Performance
Pick of the week
| Scrip | Trade | Entry above | Target | Stop loss |
|---|---|---|---|---|
| ICICIBANK | BUY | 1407 | 1490 | 1362 |
Rationale
- ICICIBANK is currently at a critical juncture, having successfully broken out of a tight trading range (rectangle pattern) on the daily chart. This breakout indicates quiet accumulation by buyers at lower levels over the past month, paving the way for a potential upside rally.
- The stock is trading above the 20-day EMA (short-term trend indicator) & 50-day EMA (mid-term trend indicator), confirming short-term strength and acting as a support zone.
- The RSI (Relative Strength Index) is currently at 71.97, indicating strong upward momentum. If the stock holds above its breakout level, the rally could continue
