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Rex Harrison Cano, part of Business Standard's online markets team, has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and an expert technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Rex Harrison Cano, part of Business Standard's online markets team, has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and an expert technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
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.
The MCX Gold futures have gained 4 per cent and Silver 6.5 per cent so far in March on hopes of interest rate cuts in the US. Chart suggests that positive bias shall prevail in the near-term.
Even as the charts suggests that the Nifty PSU Bank index may exhibit some volatility in the near-term, select shares can potentially rally up to 13 per cent from current levels.
With Tuesday's 20 per cent fall, IIFL Finance was seen trading below its 20-Month Average for the first time after a gap of 3 years. Chart suggests bias to remain weak below this particular level.
The stock Tata Motors has so far rallied 32 per cent in 2024, and a solid 145 per cent in FY24. Charts suggest that the bias is likely to remain bullish as long as the stock trades above Rs 975.
RK Swamy IPO: The Company's share sale opens today and closes on March 06. Investors can subscribe to the issue in the price band of Rs 270-288 per share.
The BSE Sensex has gained on an average 7.7 per cent in the month of March in the last three general election years. Will history be repeated?
Even as the Nifty seems on course to register decade high fiscal gains, the rally seems to have lost momentum in the recent months, with net gains well below the overall average in FY24 so far.
A day after Reliance, Viacom18 and Disney announced a mega joint venture, RIL traded firm, while shares of TV18 group hit the 5% lower circuits. Here's a quick chart check.
As many as 10 stocks within the Nifty 500 space have declined over 20 per cent so far in 2024. These are the key levels to watch out, suggest charts.
With Wednesday's 9 per cent fall, Vodafone Idea has declined over 20 per cent in the last three trading sessions from its recent high; stock is now trading close to its weekly support level.