The technical analyst from HDFC Securities expects the Nifty to rally towards 17,794 on a breakout above 17,500-level.
SATISH RAMANATHAN, chief investment officer for equity at JM Financial Asset Management says the investment firm has increased cash levels marginally across portfolios to ride out the volatility.
The technical analyst also expects the Nifty to rally to 17,484 to 17,794; the support is now raised up to 17,100 level.
If the BSE Sensex and the NSE Nifty 50 cross their respective 100-DMAs, the benchmarks can easily rally another 2.50 per cent each.
The technical analyst expects the Nifty to turn bearish below 16,555; whereas on the upside sees resistance around 16,927 and 17,040 levels.
Similarly, the Bank Nifty may shed another 7 per cent to 30,500-31,000 levels.
The technical analyst from HDFC Securities expects CDSL and Polycab to perform well
The technical & derivative analyst from HDFC Securities recommends buying SAIL and and Hindalco
The technical & derivative analyst from HDFC Securities expects weakness in Nifty to continue
The technical & derivative analyst from HDFC Securities recommends buying Chambal Fertilisers and Info Edge
The technical analyst from HDFC Securities says that stock specific bullish moves will continue while Nifty consolidates in the 17,800 - 18,200 range
The key benchmark indices may record new all-time high levels in Samvat 2078, provided they conquer the near-term significant resistance levels.
Among stocks, the technical analyst from HDFC Securities recommends buying M&M Finance and Indian Bank
The BSE index declined 5.3 per cent from its recent peak of 62,245 to a low of 59,105 in intra-day trades on Friday
Sameet Chavan of Angel Broking recommends shorting Titan and UBL as the counters look weak on the charts
To confirm short term trend reversal, Nifty needs to breach the low of 18,377 in the coming sessions
18,000 holds key for the bulls and as long as it is defended comfortably, the bulls have no reason to worry about
The stock of Indian Bank has broken out from ascending triangle on the weekly charts
The technical analyst from HDFC Securities also explains why he is bullish on BPCL, SBI Life
On the upside, the Nifty may face resistance in the range of 17,950-18,000, says the technical analyst from HDFC Securities