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F&O Talk: Nifty lacks direction on charts, says Sudeep Shah; outlines Bajaj Finance, Eternal strategy after Q1
Economic Times 3 hrs ago·1 Aug 2026, 9:47 am
Technical analyst Sudeep Shah of SBI Securities suggests the Nifty index is currently stuck in a consolidation phase, lacking a clear directional trend. This sideways movement indicates that the market is waiting for a fresh trigger to move higher or lower, leaving traders in a state of uncertainty.
For investors, this lack of direction means that momentum-based strategies may not be effective right now. Instead, Shah advises focusing on individual stock strength, particularly in financials like Bajaj Finance, where a strong breakout could signal the next leg of the market's rally.
Moving forward, market participants should watch for a decisive close above or below key resistance levels to determine the index's next move. Until then, maintaining a cautious approach and waiting for a clear breakout is the prudent strategy.
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- Category: Stocks.
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A routine update. Use the price and stock snapshot to gauge how the market is responding.
