Similarly, ICICI Bank and Asahi India too registered a close below the Supertrend line indicator on Monday.
The derivatives data reflects at a cautious and guarded market stance, with Call writers at slight advantage, explains Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
Devarsh Vakil, Head of Prime Research at HDFC Securities reckons that investors should wait for a 10-15 per cent price correction in Hindustan Copper and Hindustan Zinc.
Analysts believe that valuation comfort coupled anticipated revival in earnings and possible reversal of AI trade offer a better risk-reward scenario for Indian IT firms.
Aakash Shah of Choice Equity Broking's top picks include Tarc, Karur Vysya Bank, and APL Apollo Tubes; check target, stop-loss
Engineers India, NMDC, and Titan Company are among the top stock picks by Rajesh Bhosale of Angel One
RBL Bank Share: The daily chart shows that apart from the 'Triple Top' formation, RBL Bank stock is seen trading near its 20-day moving average for the last one month.
Motilal Oswal bets on TCS, SBI, Biocon, Dalmia Bharat, Astra Microwave Products and others; here's why
In general, a bearish engulfing candlestick pattern is considered as a bearish sign, as the latest candle completely overshadows the preceding day's price action on the charts.
Stocks to buy today: Ajit Mishra of Religare Broking recommends buying Airtel, Coal India and HCLTech; check target here
Kunal Kamble of Bonanza recommends buying Manappuram Finance, Indus Towers and Nuvama Wealth; here's why
Ajanta Pharma, JBMA Auto and Manappuram Finance have seen strong price action backed by heavy trading volume in Wednesday's trading session.
Sundaram Finance has a strong proven track-record, while Poonawalla Fincorp is shaping up in the right direction, believe analysts.
Bharti Airtel, Larsen & Toubro, Varun Beverages, Tata Consumer Products and HPCL can rally up to 20 per cent from here, explains Drumil Vithlani, Technical Research Analyst at Bonanza.
Stocks to buy today: Shrikant Chouhan of Kotak Securities recommends buying Shriram Finance and Varun Beverages; here's why
RVNL, Jupiter Wagons, KEC International, JSW Infra, GE Vernova, HBL Engineering, KSB, Lloyd Metals and Sagility are seen trading above the Supertrend indicator in Monday's intra-day trade, show charts
The Relative Strength Index (RSI) is a technical momentum indicator which helps in determining overbought and oversold stocks; in general, a reading below 30 is considered as oversold.
ICICI Bank, HDFC Bank, IndusInd Bank from private lenders, and state-run SBI and Bank of Baroda look favourably placed on charts, says Aakash Shah, Technical Research Analyst of Choice Equity Broking.
Nifty trading strategy: Short term trend of the Nifty remains weak as it is placed above its 11 and 20 day EMA.
The FMCG space continues to witness a mixed trend, with Britannia emerging as a relative outperformer, gradually trending higher over the past nine months.