Ajit Mishra says that Nifty's inability to sustain above the 20-DEMA, keeps the near-term outlook cautious. Flags higher-high, higher-low pattern on Bharti Airtel for his positive stance.
Stock market outlook: Jatin Gedia of Teji Mandi expects the pullback in Nifty to continue citing positive cues from the daily and hourly momentum indicators.
Analysts at Motilal Oswal Wealth Management Research Desk are bullish on mid-caps Indian Hotels and Lenskart, and small-caps Symbiotec Pharmalab and Urban Company.
Stocks to buy: MCX has formed a bullish candle, reclaimed the 50-DEMA and started making higher highs, indicating renewed buying interest, explains Chandan Taparia of Motilal Oswal.
Vinay Rajani of HDFC Securities believes that a sustained move above 22,800 could clear the 20-DEMA resistance and open the way for Nifty toward the next resistance at 23,175.
Stocks to buy: Anand James of Geojit Investments flags the formation of a 'Morning Star' pattern on TD Power stock chart near this support, strengthening the possibility of a near-term reversal.
Nykaa offers an attractive combination of category leadership, strong execution, multiple growth levers, and improving profitability, says Shrikant Chouhan, Head of Equity Research at Kotak Neo.
Stocks Ideas: Chennai Petro is showing signs of recovery after recent volatility, with the share price sustaining above its 50-EMA, says Sachin Gupta of Choice Broking.
Stocks to buy today: The 22,200-22,400 zone is the next key support area, while the 23,000-23,300 zone is likely to cap the upside during any recovery.
The structural earnings outlook for JSW Steel remains positive given it's focus on cost optimization, captive raw material integration, and scale expansion, says Shrikant Chouhan of Kotak Neo.
After a slow start during Ganesh Chaturthi, demand picked up in Navratri, with consumer durables sales growing 25-30% YoY, notes Motilal Oswal Wealth Management Research Desk.
Anand James, Chief Market Strategist, Geojit Investments explains that NCC is showing early signs of a recovery, with the stock breaking above its declining trendline on charts.
NTPC stock is showing early signs of a potential reversal, as it trades near its long-term support (200-week EMA) on the charts, says Sachin Gupta of Choice Broking.
Virat Jagad, technical research analyst at Bonanza, flags that HCL Technologies and Zensar Technologies witnessed buying interest at their respective 100-month exponential moving averages on the chart
Axis Bank, Karnataka Bank, PNB, AU Bank and City Union Bank are the 5 bank stocks identified by Ajit Mishra of Religare Broking and Hitesh Rathi of Angel One based on the technical chart set-up.
Technical analysts flag that the HDFC Bank stock rebounded after forming a base around ₹680 in September. Jatin Gedia and Drumil Vithlani expect support for the stock in the ₹710-680 zone.
