Barring Wipro, all the other major tech companies have outperformed the benchmark Nifty50 index which has slipped 7.6 per cent till date in 2020
The study of the same recurring patterns in the financial markets assists in developing trading strategies
Last week, Indian bourses saw their worst weekly fall in a decade with the S&P BSE Sensex and the Nifty50 tumbling nearly 7 per cent each during this period.
Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition
The overall trend in the paint stocks remains bullish and any corrective move may see buying opportunities.
Consolidation in Axis Bank may see breakdown if the counter closes below 100-DMA for two consecutive days.
The pattern consists of a shape that have three peaks which are categorised into the left shoulder, head and the right shoulder.
Shares of Avanti Feeds jumped over 80% in the last 3 months while those of Dr Lal PathLabs climbed around 38% in 6 months. Shares of Deepak Nitrite & Blue Star rose over 30% each in the last 4 months
In the last several years, the stock has crossed Rs 480 for about five times during intra-day but could never close above the level
The target level is usually the difference between the low of the rounding bottom and the price where the actual breakout happened.
A look at what technical charts indicate for these stocks.
Moving averages and technical patterns suggest that the upside momentum in Tata Group stocks is likely to stay high despite the recent developments
Formation of "Higher High, Higher low" in Adani Green may indicate further upside towards Rs 190 levels in the coming year
Here's how key indices look on the technical charts.
Gaps are areas on a technical chart where the price of a stock (or another financial instrument) moves sharply up or down, with little or no trading in between
A double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal
Even as Adani Transmission hit new lifetime high on Tuesday, most power sector stocks are showing bearish signs. Here is how they look on the technical charts
A Golden Cross breakout can trigger an upside rally in DLF
The American and Chinese leaders spoke about their desire to sign an initial trade deal to defuse a 16-month tariff war, boosting financial markets.
The finance minister stated the strategic disinvestment of the two state-run companies is critical for the government to meet its disinvestment target of Rs 1 trillion for the current fiscal year.