Sector Summary At Glance
| Index Name | Pattern Formation | Strategy | View |
| Realty | Index forms a bullish rounding bottom, signaling recovery | Breakout above 930 indicates bullish move | Bullish momentum expected above 930 |
| Auto | INDEX forms a falling wedge and rebounds from lower levels | Breakout above 22,500 could signal a strong bullish move | Index may continue upward if it holds above 20,000 support |
| Industrial | Index forms a bullish rounding bottom, signaling recovery after a decline | Breakout above 13,700 triggers a bullish move, with support at 12,000. | Further upside potential if the index holds above 12,000 support. |
| Capital Goods | Falling wedge with a bullish engulfing pattern near support. | Buy above 64,000 for a potential rise to 68,000, with support at 57,000. | A move above 64,000 could signal further upward momentum. |
| Telecom | Forms an engulfing candlestick at Fibonacci support and breaks out from a falling wedge pattern | Buy above 2,800 for a potential move towards 3,000, with support at 2,400. | Break above 2,800 signals recovery; drop below 2,400 suggests further weakness. |
| Bankex | Index rebounds, finding support at the rising channel’s lower band. | Buy near current levels, with 56,500 support and targets at 62,000–63,000. | Positive RSI signals strength; breach below 56,500 risks trend reversal. |
| Energy | Falling wedge with an engulfing candlestick near Fibonacci support. | Buy near current levels, with 30,000 as support; target 36,000–38,000 if momentum persists. | Positive RSI divergence suggests strength; breach below 30,000 risks trend reversal. |
| Healthcare | Nifty Healthcare Index forms a rounding bottom with bullish reversal signals. | Buy near current levels, with 39,000 support; target 43,000–45,000. | Bullish momentum likely; breach below 39,000 risks trend reversal. |
| Basic Material | Index breaks out of a falling wedge pattern, with a strong 10% rally. | Buy near current levels, with 6,800 support; target 7,500–7,600 if momentum continues. | Bullish momentum likely with RSI breakout; breach below 6,800 risks trend reversal. |
| FMCG | Index forms a bullish hammer near rising channel support | Buy near current levels, with 17,500 support; target 21,400–22,500. | Bullish momentum expected; breach below 17,500 risks reversal |
| Consumer Durables | Index continues below the breakdown level, reinforcing the bearish trend. | Watch for break above 58,000 for a bullish trend, or below 52,000 for further downside. | Bearish outlook unless the index moves above 58,000; further downside if below 52,000 |
| IT | Index forms a Doji at rising wedge support, with bullish weekly candlestick. | Buy above 39,000 for target 42,000; support at 35,500. | Bullish above 39,000; weakness below 35,500 |
Reality: Index forms a bullish rounding bottom, signaling recovery
Trend Formation
The Nifty Realty Index gained 8% in March, forming a strong bullish candle, indicating sustained buyer dominance and upward momentum.
Weekly Analysis
A rounding bottom pattern on the weekly chart suggests accumulation after a downtrend, reinforcing a potential bullish reversal.
Momentum Indicators
Momentum indicators show strengthening buying pressure, supporting continued upside movement.
Key Levels
Support: 800-750
Resistance: 930
Sustained momentum above 930 may lead to a strong rally, while holding above 800 keeps the bullish trend intact.
Auto: Nifty Auto Index forms a bullish candle, rebounding from a falling wedge formation
Trend Formation
NIFTY AUTO INDEX rallied 4%, recovering last month’s fall and forming a bullish monthly candle.
Weekly Analysis
The index is in a falling wedge pattern, rebounding from lower levels, suggesting potential upward movement.
Momentum Indicators
RSI (14) holds support at 40, and the 100 EMA supports around 20,600.
Key Levels
Support: 20,000
Resistance: 22,500 (breakout could lead to a strong rally)
If the index stays above 20,000 and breaks 22,500, further upside is likely.
Industrial: Index forms a bullish rounding bottom, signaling recovery after a decline.
Trend Formation
The Nifty Industrial Index shows strong bullish momentum with a 12% gain for March, signaling buyer dominance with a bullish monthly candle.
Weekly chart
A rounding bottom pattern on the weekly chart indicates an “accumulation phase,” with strong support at lower levels and a gradual recovery.
Momentum Indicators
The index is showing positive momentum, suggesting further bullish movement as it recovers from the previous decline.
Key Levels
Support: 12,000
Resistance: 13,700 (breakout above this level could lead to further upside)
If the index stays above 12,000 and breaks 13,700, further upward movement is likely.
