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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.
A retracement of up to 50 per cent of the recent fall, can lead up to 18% rally in shares of IIFL Securities, Geojit and Emkay, show technical charts.
Nuvama Institutional Equities, in report based on technical analysis, expects the Nifty MidCap to turn bullish above 48,100 and SmallCap above 15,400 levels.
Alok Industries and Chambal Fertilisers among others have recently bounced back above their 30-EMAs; charts suggest a possibility of an up move in the near-term.
Here are three key factors that are working in favour of the bulls and bears and could dictate the market trend going ahead as per the technical charts.
The NSE Metal index has rallied 3% so far this week, while the Nifty has edged 0.2% higher. Technical charts suggest select frontline metal shares can rally another 14% from present levels.
Stocks like BSE, KRBL, Prestige Estates, Sharda Cropchem and Sumitomo Chemical are seen exiting oversold zone and can potentially rally up to 16 per cent in the ensuing pullback, suggest daily charts.
33 out of Nifty 50 stocks trade below their respective 50-DMAs; Charts suggest that select stocks can decline up to 13% in case the fall extends towards the 100-DMAs.
Analysts believe that Lok Sabha polls and IPL may provide short-term earnings boost, but the overall sentiment depends on how the RIL-Disney deal shapes up or a revival in Zee-Sony India merger talks.
As of 10 AM on Friday, Yes Bank, Voda Idea, IRFC, NHPC and Tata Steel were the top traded stocks among the Nifty 200 index. Here's a technical outlook on the select shares.
Edelweiss Mutual Fund on Thursday disclosed its first stress test result in order to comply with recent Sebi directive.
Most analysts, however, do not think so as they expect a minor dip and a sharp recovery as investors flock to the large-caps in search of safety and value buying as the mid-and small-caps falter.
With today's sharp rally, technically ITC is seen trading close to its long-term moving average on the daily charts.
Godfrey Phillips has been one of the key outperformers among SmallCaps thus far in 2024; presently the stock is seen testing support at its trend line, shows daily chart.
Technical charts suggest that the stock is displaying a firm trend, and trading above its key moving averages.
The MCX Natural Gas futures have declined over 6 per cent so far in March, and tumbled up to 82 per cent from the peak in August 2022.
This particular technical indicator on the weekly charts suggests that the Nifty PSE, CPSE and PSU Bank indices could consolidate or dip in the near-term
Borosil Renewable and EaseMyTrip can potentially rally up to 18% from present levels, while Adani Green and Epigral may consolidate, suggests technical charts.
Tata Chemicals had rallied 46 per cent in the last six trading sessions; a 50 per cent retracement of the rally could see the stock dip to Rs 1,217, shows chart
Charts suggest that among the key Nifty heavyweights, Infosys, HDFC Bank and ICICI Bank look poised for gains, while Reliance is likely to consolidate in the near-term, writes Rex Cano
Among the frontline NBFCs, Bajaj Finance looks interestingly poised, with the stock attempting to form a bottom following a 17 per cent decline since mid January, suggests technical chart.