On the upside, the Nifty may face resistance in the range of 17,950-18,000, says the technical analyst from HDFC Securities
Traders are advised to continue with a stock specific approach but keep booking timely profits as well
The technical analyst from HDFC Securities also recommends to remain long on the Nifty and BankNifty with a stop at 17,325 and 36,525, respectively.
Sameet Chavan of Angel Broking recommends buying HPCL, and shorting Titan and Tata Steel
As of now, clearly bulls are having a firm grip on the market but as we have been mentioning since a week or so, they would find a bit difficult now going ahead
Century Textile and VIP Industries are the two stock recommendations by HDFC Securities
Nifty is expected to continue its uptrend and longs should be held on a trailing stop loss basis
We advise continuing with one step at a time approach and keep booking timely profits in the rally
We are not at all advising to go against the current trend; but at least taking some money off the table on existing positions is always a good ploy, he says
It would be very important for the banking index to surpass the 36,000 mark to push the benchmark to new highs
Hero MotoCorp's stock has broken down below the last six week's price consolidation
Bajaj Finance's stock price has broken out from symmetrical triangle on the daily charts, and rising volumes have confirmed the breakout
Above 15,900, Nifty could move towards 16,300 target, while any level below 15,673 could drag Nifty towards 15,500 support
Recently, Cummins India's declining trend seems to have been arrested around the 750-mark, which coincided with the '89-EMA' on the daily chart
The stock price of Indian Hotels has broken out from its three-week-long consolidation
We advise traders to lighten up positions at higher levels and it's better to take one step at a time for the time being
On Friday, the benchmark S&P BSE Sensex tumbled as much as 722 points in intra-day deals
On June 3, Oberoi Realty's stock surpassed the crucial double top resistance of 630 on a closing basis
On the daily chart, the Nifty MidCap index in reaching the '100% Price Extension' of the previous up move
Piyush Garg, executive vice-president & CIO PMS, ICICI Securities shares his views on the road ahead for the markets and the investing strategies one should adopt