A decisive close above 2,000 mark on Nifty PSU index may open doors for 2,200 levels going ahead
Among individual stocks, Axis Bank, ICICI Bank, SBI may climb higher levels in coming sessions
PSU stocks like IRCTC, BPCL, RCF, and RITES have not seen aggressive selling pressure. A small recovery may see a strong bullishness going forward
Only a decisive close below 47,000 may accelerate selling pressure on the S&P BSE Sensex, charts show
A moving average, trendline, or gap-up breakout needs to have sparkling volumes to provide gradual rise
Union Minister for Road Transport and Highways Nitin Gadkari's proposal to levy 'green tax' on old vehicles polluting the environment nudged investors to off-load auto stocks from their portfolio
Technical indicators show that Bharti Airtel, Sun Pharmaceutical Industries, and ONGC are not showing an optimistic view from a short-term perspective
Sensex has already rallied 94.2 per cent (till Wednesday's closing) from its March low of 25,639
The hammer candlestick usually occurs during a downtrend having strong bearish sentiment.
The recent reversal in paint stocks may see aggravated buying momentum after conquering significant resistances
On Monday, Maruti Suzuki increased the price for select models by up to Rs 34,000 to offset adverse impact of rising input costs
Railway-related stocks such as IRCTC and RITES may see a sharp surge once significant resistances are breached
Adani Enterprises, Berger Paints (I), Bharti Airtel, Eicher Motors, Grasim Industries are among the other notable names
The overall trend of Infosys is optimistic with a rally expected to move in the direction of Rs 1,500 level, as per the weekly chart
In OBV indicator, a positive close candle volume is added cumulatively and negative close volume is subtracted to determine the trend
On the monthly time frame, the breakout above Rs 500 levels earlier has triggered strong upward momentum
Going forward, analysts at Phillip Capital expect metal companies to report further improvement in operating performance in Q3FY21 results
Edelweiss Securities expects earnings momentum in the sector is likely to accelerate in Q3FY21 driven by good start to Rabi along with a healthy cash flow position of farmers
Nifty Bank index may hit record levels of 33,000 if it surpasses the resistance of 32,300
ITC stock is struggling to conquer the resistance of Rs 215 to Rs 220 levels. The downside support stays at Rs 200