Asian Paints seems to have completed its corrective move and are poised for a resumption of the uptrend
Support for the Nifty is seen at 14,500 and with that as a stop loss, traders should remain bullish
Price-wise, BPCL's stock seems to have a sturdy structure on the weekly time frame and, looking at the lower degree chart, the recent price correction appears to have completed
The primary trend of the markets is bullish as short term moving averages are trading above medium to long term moving averages and Nifty has been holding higher tops and higher bottoms
With Friday's move, 15,200 - 15,400 has become a sturdy wall for Nifty and it would really be a daunting task surpassing this in the absence of any major trigger
L&T Tech's stock price has broken out from the long-term consolidation, which it held for the last two months
We can witness short-covering move along with addition of fresh position only if Nifty breaches 15,250
The trend of midcap and smallcap stocks has been strong and stock specific bullishness is likely to continue
Support for the Nifty is seen at 14,336 odd levels, where 50 days EMA is placed
In the last couple of sessions, Petronet's stock prices witnessed a good traction and, importantly, it's backed by the more than average daily volumes
Short-term resistance for the Nifty is seen at 15,470-odd levels
With last week's smart rally, the daily chart now exhibits a 'Range Breakout' in Muthoot Finance
We have witnessed a good base building in the ITC stock and finally, it has managed to come out of its slumber
Nifty50 can witness profit booking only if it breaks level of 14,500
The Nifty50 has recovered more than 62 per cent of the entire fall which was registered from 14,653 to 14,222
The stock of Syngene International is also sustaining above its important moving averages
Immediate resistance for the Nifty is seen at 14,890
We can witness profit booking only if Nifty breaks level of 14,000. Therefore, traders should try to create long position keeping close eye on 14,000
Support for the Nifty index has shifted to 13,950 levels
The real action lies in the broader markets which may continue to provide better trading opportunities