Barring Adani Transmission, Adani Green Energy and Adani Total Gas appears for a smart reversal on the charts unless key supports are breached
According to Ravi Nathani, an independent technical analyst, one can look to 'Book Profits on rise' as the Nifty 50 index is expected to face resistance in the 18,450 - 18,500 range.
Technically, stocks inversely proportionate to the benchmark indices' trend are safe to bet during weakness.
Unless major resistances are crossed, both the HDFC and Bajaj twins are likely to face selling pressure on up moves
Shares of Kamat Hotels India are on the course to double this year, while Royal Orchid Hotels and Oriental Hotels have both gained 30 per cent each.
The FMCG index has risen 10 per cent since the start of the current year, with ITC, Nestle India, Radico Khaitan, and Varun Beverages zoomed 31 per cent, 12 per cent, 11 per cent and 10 per cent each
Following a sharp reversal at the end of the April series, the BSE Sensex and Nifty 50 took a breather near to their respective the 200-day moving average (DMA) before offering the next leg of upside
While it is risky to be bullish on the stock trading in the overbought category, the underlying trend must to be followed at all time.
Nifty Auto, and Nifty FMCG indices are likely to face resistance in the near-term, hence the best trading strategy to adopt is to sell-on-rise, said the technical analyst
Indigo shares may hit a new historic peak once it settles over Rs 2,200 level.
Adani Enterprise , in particular, could see a rally of up to 11 per cent in coming sessions
The Smallcap index seems poised to hit the 10,000-mark.
According to Ravi Nathani, an independent technical analyst, one can adopt a 'Buy on Dip' strategy in Nifty Energy, Commodities and MNC indices.
Nandish Shah, Sr. derivatives & technical research analyst, recommends to Buy LARSEN 2300 Call option and simultaneously Sell 2400 Call of the May series.
According to Ravi Nathani, an independent technical analyst, one should look to book profits in Nifty Realty either at current levels or on rally.
Railway related stocks are poised for next leg of upside, shows techncial charts
Zydus Lifesciences, in particular, has been scaling 52-week highs with momentum staying highly elevated. Also, Aurobindo Pharma shares have seen a steeper rise, with aggressive chart structures.
According to Ravi Nathani, an independent technical analyst, the Nifty Private Bank index can also be sold at current levels, with 21,250 seen as a crucial support for the index.
According to Ravi Nathani, an independent technical analyst, the Bank Nifty is expected to face resistance around 42,615-42,950-43,600.
According to Ravi Nathani, an independent technical analyst, the Nifty Midcap 50 Index may consolidate in a range of 8,800 - 8,736.