So far, the stance of FIIs have been bullish as they ploughed in Rs 25,787 crore in the month of February post the Union Budget for FY22
With the Tata Chemicals' stock continuously witnessing buying momentum in the overbought condition of Relative Strength Index (RSI), the strength remains intact
Major paper stocks have managed to conquer their resistance levels and indicate a rising trend from a medium-term perspective
Whenever the stock price shows a reversal near the major moving averages, the turnaround is expected to be sharp, and the volumes tend to increase
With a strong gap-up on March 2, 2021, BPCL stock is near the resistance range of Rs 481 to Rs 483 levels
With a strong up move on March 1, 2021, the stock of Sun Pharmaceuticals now needs to cross the resistance of Rs 620 mark to see a breakout rally towards Rs 640 and Rs 655 levels
The 'Island Reversal' pattern formed by Sensex, Nifty, and Nifty PSU Bank index usually indicates a strong reversal in trend
So far in the month of February, Tata Consumer Products, Tata Steel, and Tata Motor have outperformed the benchmark Nifty50 index by rallying between 12 per cent and 22 per cent
The recent gap-up in the range of Rs 290 - Rs 282 levels remains the crucial breakout for the upside in Tata Motors
From an intraday trade perspective, technical analysts use 5 mins, 10 mins, 15 mins, 30 mins, or 60 mins time frame on charts.
The Nifty Metal index is struggling to sustain above the 3,600 mark. However, once breached decisively, an up move towards 4,000 levels can not be ruled out.
A breakout above Rs 2,100 in RIL's counter may see a rally towards 2,400
Technical indicators suggest further upside in the S&P BSE Oil and Gas index towards 15,800 to 16,000 levels.
The technical outlook continues to show more upside in these stocks
Markets have been volatile since the past few sessions with the S&P BSE Sensex giving up the 52,000 levels after a record run since March 2020 low
The middle EMA acts as support/resistance level in Keltner Channel
The overall trend is optimistic till the Nifty PSU index defends the support of 2,000 mark on the closing basis
After the recent correction in Nifty IT, the index is gradually rising
HDFC and HDFC Bank are expected to perform better in coming months as per the charts.
The price hike has attracted the attention of market participants, now the stock needs to cross significant resistance to move ahead.