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.
Avanti Feeds is showing a strong bullish setup on the daily chart, with price sustaining above its 20, 50, 100 and 200-day EMAs, confirming a medium- to long-term trend reversal in favour of bulls.
Analyst at Choice Broking cautions against bottom-fishing, and instead recommend a wait & watch approach for a potential trend reversal.
Oil price outlook: The most significant downward pressure on oil prices this month stems from renewed optimism regarding the conflict in Ukraine.
On the technical charts, Gold has confirmed a fresh breakout from a classic cup and handle formation, reinforcing the strength of the ongoing uptrend, says Apurva Sheth of SAMCO Securities.
Among smallcaps - Natco Pharma, Neuland Laboratories, Inox India, Welspun Living and GE Shipping shares have witnessed the formation of 'Double Bottom' pattern on the technical charts.
Dixon Technologies has plunged 32 per cent from its calendar year high, while ITC Hotels stock has shed nearly 27 per cent, shows technical charts.
The recent slide, following Friday's RBI-driven rally, has weakened the short-term sentiment, and we now view 25,650 as the next critical support
Kkunal V Parar of Choice Broking expects Angel One to test ₹3,075 levels on the upside, if the stock manages to sustain above the 50-DMA on the daily chart.
Technical charts show that stocks such as IndiGo, Hindustan Unilever, Apollo Hospitals and Tata Motors Passenger Vehicles are trading in oversold territory based on the RSI parameter.
AB Capital is in overall uptrend and perfectly respecting 20 DEMA, while Federal Bank has given consolidation breakout on daily chart and formed a strong bullish candle
Kunal Kamble, senior technical research analyst at Bonanza, has recommended buying shares of Gujarat Pipavav, Ashapura Minechem, and ESAB India today
During the weekly expiry session, Nifty witnessed heightened volatility and ended the day at 25,839, down 120 points
The Nifty Defence index has shed nearly 7 per cent so far in December; the index was seen quoting below the long-term average for the first-ever time.
According to Shrikant Chouhan of Kotak Securities, Prestige remains well placed to benefit from sectoral tailwinds, and ITC continues to position itself as a future-ready Indian conglomerate
Indus Towers has consistently traded above all its significant EMAs, reflecting a positive market sentiment, and Policybazaar has also demonstrated a consistent performance
IMFA, LTIMindtree and Coforge among breakout buys recommended by Kunal Kamble of Bonanza on strong momentum and volume signals
Sentiment was dampened by a weakening rupee, which hit a record low of 90.13 against the dollar, heightening concerns around import costs and triggering FII outflows