Long build up is seen in the Midcap Nifty Futures where Open interest rose by 6 per cent along with a price rise of 0.60 per cent
IndusInd Bank, PG Electroplast, Five-Star Business, Cohance Lifesciences and Praj Industries have shed 20% in the last 7 months, while the Nifty and Nifty 500 have rallied up to 18%, shows data.
Bharti Airtel continues to display a strong price structure, sustaining its steady uptrend, while SBI has registered a breakout after consolidating in a narrow range for nearly five months
Breakout stocks: GMR Airports, Mahanagar Gas, Redington, JSW Infrastructure and Bank of Maharashtra can rally up to 28%, suggest technical charts.
Apollo Tyres stock is likely to trade with a favourable bias as long as it holds above ₹460 levels. On the upside, the stock can potentially rally up to 14%, suggests the technical chart.
Tata Steel has given a breakout above its resistance zone, confirming a bullish trend, while ABREL has given a breakout from its recent range‐bound movement, signaling the start of an uptrend
Nifty has now surpassed the previous swing high of 25,154, resulting in higher top formation preceded by higher bottom on the daily chart.
Angel One has shed 33% from its June high, and the stock has seen formation of 'Death Cross' on the daily chart in recent days; thus signalling likely further weakness at the counter.
Bajaj Finserv combines strong execution, diversified financial engines, and emerging growth platforms, making it a compelling play on India's long-term financialization theme
Data shows that as of date 36 out of Nifty 50 shares, and 314 out of Nifty 500 stocks were trading above the long-term 200-Day Moving Average.
Paras Defence, Midhani were seen trading above the super trend line hurdle on the daily chart, thus implying a likely positive trend going ahead.
Stocks to buy: Astra Microwave Products has shown a strong movement in the last trading session, while Lupin has recently undergone a notable resurgence
Gold outlook: The yellow metal is likely to rise to $3800 (Rs 115,000) in the coming months, with support at $3600, according to Praveen Singh
SBI, SBI Card, Canara Bank, Tata Chemicals and Wipro have witnessed a short-term breakout as per the price-to-moving averages action, shows the daily chart.
Market experts believe that the short-term trend is bullish; but flag caution owing the weakening momentum on key technical indicators. Here are the key levels to watch out for on the Nifty.
Penny stocks such as Reliance Home Finance, Aksh Optifibre, Steel Exchange India and 2 others, trading below ₹10 per share, seem to be favourably placed on the charts.
Bajaj Finance, Coal India and Hindustan Aeronautics are the buy recommendations given by Ajit Mishra of Religare Broking
Technical charts suggests that steel stocks are favourably placed on the charts, and could see a multi-month rally with a potential upside up to 24 per cent from here.
The much-awaited upward momentum for the Nifty index is likely to be confirmed only with a move above 25,000, HDFC Securities' Vinay Rajani said
Affle 3i, Raymond Lifestyle and Devyani International are the top technical picks for Kunal Kamble of Bonanza Portfolio