With a strong up move on March 1, 2021, the stock of Sun Pharmaceuticals now needs to cross the resistance of Rs 620 mark to see a breakout rally towards Rs 640 and Rs 655 levels
The PSU stocks are on a roll since the last couple of months and the way they are shaped up, they appear to perform well throughout this year
The 'Island Reversal' pattern formed by Sensex, Nifty, and Nifty PSU Bank index usually indicates a strong reversal in trend
Hindpetro has witnessed a strong rebound after forming a base above the support zone of moving averages ribbon on multiple time frames
Support for the Nifty is seen at 14,336 odd levels, where 50 days EMA is placed
The Nifty Metal index is struggling to sustain above the 3,600 mark. However, once breached decisively, an up move towards 4,000 levels can not be ruled out.
A breakout above Rs 2,100 in RIL's counter may see a rally towards 2,400
In the last couple of sessions, Petronet's stock prices witnessed a good traction and, importantly, it's backed by the more than average daily volumes
The stock price of IOC has broken out on the daily chart (Adjusted for dividend) where it closed at highest level since March 2020 with higher volumes
Technical indicators suggest further upside in the S&P BSE Oil and Gas index towards 15,800 to 16,000 levels.
The technical outlook continues to show more upside in these stocks
The middle EMA acts as support/resistance level in Keltner Channel
Short-term resistance for the Nifty is seen at 15,470-odd levels
LIC Housing Finance has witnessed a fresh breakout of late, after spending nearly a month in a consolidation range
The overall trend is optimistic till the Nifty PSU index defends the support of 2,000 mark on the closing basis
After the recent correction in Nifty IT, the index is gradually rising
With last week's smart rally, the daily chart now exhibits a 'Range Breakout' in Muthoot Finance
The stock of Nestle India has witnessed a gradual correction and has consolidated near the 200-DMA level of 16,950, maintaining a decent support.
The price hike has attracted the attention of market participants, now the stock needs to cross significant resistance to move ahead.
The stock price has witnessed running correction of 10 per cent from the recent high