Page 79 - Market Technicals
SC relief fails to cheer multiplex stocks; PVR, Inox trend may turn bearish
PVR and Inox Leisure stocks must defend key levels to avoid turning bearish, show technical charts
 "SC relief fails to cheer multiplex stocks; PVR, Inox trend may turn bearish")
Bears likely to get stronger below 17,960 on the Nifty, says Ravi Nathani
On the upside, the technical analyst sees 18,336 as the key resistance for the Nifty 50.
 "Bears likely to get stronger below 17,960 on the Nifty, says Ravi Nathani")
Crude Oil may weaken below Rs 6,340; key support for Natural Gas at Rs 333
On the downside, MCX Crude Oil January futures could slide to Rs 5,940 or even re-test the recent lows at Rs 5,850-level; Natural Gas seems on course to test Rs 290 level.
 "Crude Oil may weaken below Rs 6,340; key support for Natural Gas at Rs 333")
Nifty, Bank Nifty exhibit a mixed bias, says Ravi Nathani
The technical analyst expects Nifty to test 18,336 and 18,464 on the upside; whereas Bank Nifty needs to surpass 43,860 for fresh buys, Nathani suggests.
Vinay Rajani recommends to buy HCC, Nava as stocks crossed key resistances
On the broader market outlook, the technical & derivative analyst from HDFC Securities suggests that the trend for Nifty is still bearish.
 "Vinay Rajani recommends to buy HCC, Nava as stocks crossed key resistances")
Mehul Kothari is bullish on Linde India, Saregama; check why
According to the technical analyst from Anand Rathi, Linde India can rally to Rs 3,875; while Saregama can surge to Rs 425.
 "Mehul Kothari is bullish on Linde India, Saregama; check why")
F&O Call: Nandish Shah recommends Bull Spread strategy on Bharat Forge
The derivative analyst from HDFC Securities recommends to Buy Bharat Forge 880 Call and simultaneously Sell 900 Call for the January expiry.
Metro Brands, Bayer Crop are ready for range breakout, says Mehul Kothari
According to the technical analyst from Anand Rathi, Metro Brands can rally to Rs 910; while Bayer Cropscience can surge to Rs 5,200.
Immediate hurdle for Crude Oil seen at Rs 6,725; Natural Gas to test Rs 380
On the downside, key support for MCX Crude Oil stands at Rs 6,350, below which a steeper fall to Rs 4,800 seems possible. Rs 413 - 418 is the resistance zone for Natural Gas on Wednesday.
 "Immediate hurdle for Crude Oil seen at Rs 6,725; Natural Gas to test Rs 380")
Vinay Rajani recommends to hold longs on Nifty with a stop at 17,800
Among individual stocks, the technical & derivative analyst from HDFC Securities recommends buying RCF and NCC.
 "Vinay Rajani recommends to hold longs on Nifty with a stop at 17,800")
Sugar stocks to sweeten in 2023; Dwarikesh, Renuka can rally up to 37%
The stellar performance of sugar stocks began in 2021, and is likely to continue in the new year - 2023, indicates the technical charts.
 "Sugar stocks to sweeten in 2023; Dwarikesh, Renuka can rally up to 37%")
Here's why Mehul Kothari recommends to buy ABB, MRPL
According to the technical analyst from Anand Rathi, ABB can advance to Rs 2,880; while MRPL can jump to Rs 57.
Pharma stocks upbeat amid Covid-19 scare; Divi's, Lupin can gain up to 10%
Technically, the Nifty Pharma index needs to immediate hurdle at 13,500, for further upside to 14,250.
 "Pharma stocks upbeat amid Covid-19 scare; Divi's, Lupin can gain up to 10%")
Strong support for Nifty seen at 17,850; Buy the dips, suggests chart
The options data indicates that the Nifty may look to hold on the 18,000-mark till expiry, given the high OI at the 18,000 Put.
 "Strong support for Nifty seen at 17,850; Buy the dips, suggests chart")
Mehul Kothari recommends Biocon, Aurobindo Pharma for trading gains
According to the technical analyst from Anand Rathi, Aurobindo Pharma can rally to Rs 490; while Biocon can jump to Rs 295.
 "Mehul Kothari recommends Biocon, Aurobindo Pharma for trading gains")
F&O Call: Nandish Shah recommends Bear Spread strategy on Federal Bank
The derivative analyst from HDFC Securities recommends to Buy Federal Bank 128 Put and simultaneously Sell 125 Put for the December expiry.
 "F&O Call: Nandish Shah recommends Bear Spread strategy on Federal Bank")
Paper stocks log historic gains in 2022, will the trend continue in 2023?
West Coast Paper Mills, JK Paper, Tamil Nadu Newsprint & Papers may see up to 25 per cent upside in 2023.
 "Paper stocks log historic gains in 2022, will the trend continue in 2023?")
Pivot point for MCX Crude at Rs 6,300; Natural Gas Rs 441
On the downside, the MCX Crude Oil futures can re-test its recent low around Rs 5,850-level; whereas, the next support for beaten-down Natural Gas contract stands at Rs 401.
Vinay Rajani recommends to hold longs on Nifty with a stop at 18,200
Among individual stocks, the technical & derivative analyst from HDFC Securities is bullish on NLC India and Mazagon Dock.
Worried about promoters cutting stake? Here's tech view on Dabur, TVS Motor
Prominent promoters have recently offloaded stake in companies like TVS Motor, GMM Pfaudler via block deals, few others plan to do so in the near future.