Muthuselvaraj M, Research Analyst at Mirae Asset ShareKhan highlights that TCS and HUL have broken down from a triangle pattern, while Ashok Leyland may have formed a double top on the weekly chart.
Colgate-Palmolive has broken below a rising trendline support and continues to trade below key moving averages, indicating a weak structure, says Kunal Kamble of Bonanza.
Bank Nifty has to hold above 56,750 zones for a bounce towards 57,250 then 57,500 levels while a hold below the same could see some weakness towards 56,500 then 56,250 zones
Kunal Kamble, technical analyst at Bonanza helps decode a trading strategy in oil & gas related stocks as Crude Oil prices surge to a multi-year high around $119 per barrel on Monday.
The Nifty has shed over 9% so far this year. Anand James of Geojit warns that the NSE benchmark could dip toward 22,000 or all-the-way to 19,000-mark in case it breaks the key support at 23,535 levels
The recent up move in Nifty Defence reflects renewed buying after a long phase of consolidation, says Om Mehra, technical analyst at SAMCO Securities. The analyst is bullish on BEL, BDL and GRSE.
Eicher Motors share price has been in a strong and consistent bullish trend over the past six months, forming a steady higher high and higher low structure on the daily chart
Mazagon Dock, Concor, IRCTC, DLF and SRF can bounce back from oversold levels owing to a positive divergence on the RSI indicator, explains Muthuselvaraj, technical analyst at Mirae Asset ShareKhan.
Within the Nifty 500, 14 stocks, including AWL Agri, LTIMindtree, Wipro, CoForge and IRFC were trading with a RSI reading below 20; technically the oversold threshold for the RSI parameter is 30.
Any impact on the oil infrastructure in case of a prolonged war could see the Nifty drop to 23,500 - 23,700 levels," says U R Bhat, co-founder & director of Alphaniti Fintech.
The Nifty can test 24,400 levels on the downside; MidCap, SmallCap indices can fall up to 7 per cent, cautions Kunal Shah, Senior Technical Analyst of Mirae Asset ShareKhan.
Stocks to buy: Choice Equity Broking Technical Research Analyst Aakash Shah suggests Privi Speciality, Aditya Infotech, and Atlanta Electricals for buying
Atul and Pidilite Industries shares show strong bullish technical setups. Osho Krishan of Angel One recommend 'Buy' with defined stop losses and target prices.
Bullish signs on charts: Hitesh Tailor of Choice Broking explains that BEL has witnessed a decisive symmetrical triangle breakout, while Dr Reddy's and Triveni Engineering saw 'Golden Crossovers'.
