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Market Texture Changes, Buy On Dips Strategy Will Work Above Key Levels
M
Moneycontrol•16-10-2026, 15:20
Market Texture Changes, Buy On Dips Strategy Will Work Above Key Levels
- •Nifty is trading above 23100 with strong support coming from IT, metal, and auto sectors.
- •SEBI has made major changes to the closing auction session rules which will be effective from December 7.
- •IT stocks are leading the market rally with Tech Mahindra and Wipro posting strong gains.
- •Experts advise that as long as Nifty holds above 10 and 20 DEMA, the buy on dips strategy will remain effective.
Key Questions Answered
SEBI has decided that on expiry days, settlement will be done using the older VWAP system instead of the Closing Auction Session (CAS), and the timing of CAS has also been changed.
Market texture has completely changed, and a "buy on dips" strategy will work effectively as long as Nifty remains above the 10 and 20 DEMA levels.
Indigo's stock is under pressure following news that the central government informed the Supreme Court that new rules to regulate airfares during holidays and festivals should be issued within the next two weeks.
