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Rex Harrison Cano has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and a proficient technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Rex Harrison Cano has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and a proficient technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Should you bet on sugar stocks ahead of the new sugar season? Technical charts suggest that these 5 stocks can potentially rally up to 25% from here.
The NSE Nifty 50 index has declined 1.5 per cent from its recent high; technical charts suggest the index is likely to remain in buy on dip mode as long as it manages to close above 24,975 levels.
Technical charts show that FMCG shares - ITC, HUL, Nestle India, Colgate-Palmolive and Marico were trading near key support levels; a downside breakout can trigger a fall up to 13% from here.
Recent order wins; strong Q1 show has triggered a sharp rally at Netweb Technologies counter. Technical charts hint that the stock can potentially gain another 15% from here.
IT stocks such as Infosys, TCS and 3 others could see limited downside from current levels, as they are trading above key support levels, backed by positive cues from momentum oscillators, show charts
Voda Idea is seen trading consistently above the 200-DMA after a gap of more than 1 year; a weekly close above ₹8.26 shall further strengthen the stock, suggest technical charts.
Technical chart suggests Redington stock can potentially rally to ₹385 levels, implying an upside potential of 27 per cent from here; check key support, resistance levels.
Adani group shares: Adani Enterprises, Adani Ports, Adani Power and other group stocks can potentially zoom up to 32%, hint technical charts; check key levels to track here.
IndusInd Bank, PG Electroplast, Five-Star Business, Cohance Lifesciences and Praj Industries have shed 20% in the last 7 months, while the Nifty and Nifty 500 have rallied up to 18%, shows data.
The NSE F&O data shows that FIIs open interest in index futures has declined by nearly 13 per cent from its peak; amid net purchases of contracts worth ₹7,737.41 crore in the last 8 trading sessions.
Breakout stocks: GMR Airports, Mahanagar Gas, Redington, JSW Infrastructure and Bank of Maharashtra can rally up to 28%, suggest technical charts.
Apollo Tyres stock is likely to trade with a favourable bias as long as it holds above ₹460 levels. On the upside, the stock can potentially rally up to 14%, suggests the technical chart.
Angel One has shed 33% from its June high, and the stock has seen formation of 'Death Cross' on the daily chart in recent days; thus signalling likely further weakness at the counter.
Data shows that as of date 36 out of Nifty 50 shares, and 314 out of Nifty 500 stocks were trading above the long-term 200-Day Moving Average.
Paras Defence, Midhani were seen trading above the super trend line hurdle on the daily chart, thus implying a likely positive trend going ahead.
SBI, SBI Card, Canara Bank, Tata Chemicals and Wipro have witnessed a short-term breakout as per the price-to-moving averages action, shows the daily chart.
Market experts believe that the short-term trend is bullish; but flag caution owing the weakening momentum on key technical indicators. Here are the key levels to watch out for on the Nifty.
Penny stocks such as Reliance Home Finance, Aksh Optifibre, Steel Exchange India and 2 others, trading below ₹10 per share, seem to be favourably placed on the charts.
Technical charts suggests that steel stocks are favourably placed on the charts, and could see a multi-month rally with a potential upside up to 24 per cent from here.
Among solar-related stocks, ACME Solar Holdings has surged up to 55% so far this year; technical charts hint at favourable bias for AMCE and other 2 solar energy-related shares.