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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.
Here's a technical outlook on some of the key stocks owned by ace investor Radhakishan Damani.
Derivative market update for Wednesday, August 28: The Nifty September futures premium dipped from Rs 155 to Rs 116 yesterday; while, Bank Nifty futures premium declined to Rs 257 from Rs 328.
SBI Card stock is seen trading above its 200-DMA after one month. Technical chart shows, the stock can potentially rally up 15% from present level; read details here
Trading strategies for overbought stocks: Minda Corp, Allcargo Logistics, Vijaya Diagnostic, CDSL and ICICI Lombard General Insurance are trading in overbought territory with a RSI reading of above 70
Derivative market update for Tuesday, August 27: The Nifty September futures traded at 150-odd points premium, while Bank Nifty at 330 points. Last 3 days for India Cements in F&O segment.
Technical charts suggests that Ramkrishna Forgings, Balkrishna Industries and KIMS can potentially rally up to 16 per cent from present levels; check key support, resistance levels here
Market outlook for the week Aug 26 - 30: The Nifty needs to clear resistance at 24,971, and Sensex at 81,750 for further gains. Here are the key support levels to watch out the NSE, BSE benchmarks.
Derivative market update for Monday, Aug 26: FIIs and retail traders index futures long-short ratio stands at 1.1:1; indicating more than 1 long bet for every short trade; 13 stocks in F&O ban today.
A total of 19 stocks have declined over 20% thus far in the calendar year 2024, even as the Sensex and Nifty have rallied up to 14%; here are the key levels to watch out on these 6 stocks.
Derivatives market update for Friday, August 23: Analysts suggest Nifty options market reflects a bearish sentiment, with increased Call writing vs. Puts, as the index nears major hurdles.
Key levels to watch out on PCBL, Deepak Fertilisers: PCBL can rally another 21% from here on; while Deepak Fertilisers is seen testing key resistance at Rs 1,076, show charts.
Derivatives market update: 12 stocks including Balrampur Chini, GNFC, India Cement, LIC Housing and National are in F&O ban on Thursday; 2 stocks see buildup up short positions; details here
Strong Q1 earnings, revival in FMCG sector has propelled Colgate-Palmolive stocks; Technical charts suggests that the bias shall remain favourable as long as the stock holds Rs 3,500.
Granules, MCX, Colgate, Trent, Dr.Reddy's, Glenmark Pharma, Voltas, Lupin, Tech Mahindra, Coromandel International and Balrampur Chini among F&O stocks are holding a PCR in excess of 1, shows F&O data
IDFC, Vedanta and oil marketing stocks among top dividend yield NSE 500 companies; Technical charts suggest up to 14% upside for these stocks; track these key levels.
Derivatives market update: In the last 4 trading sessions, the Nifty and Bank Nifty, both, have witnessed short-covering as prices rose on the back of 20% and 16% decline in open interest.
New-age stocks have zoomed up to 80% from Election Result day lows. Charts suggest PolicyBazaar, Paytm, Nykaa and Delhivery can rally another 12%; while Zomato and CarTrade may dip going ahead.
Derivatives market update: FIIs reduced longs in index futures marginally on Monday; their index long-short ratio stands at 1:1. Retail traders up long bets.
Stocks like PC Jeweller, TBZ, Kalyan Jewellers and Senco Gold can potentially rally up to 27% from current levels, suggest technical charts.
In general stocks trading above the key moving averages such as the 20-, 50-, 100- and 200-DMAs are considered trading with a bullish bias and vice versa.