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
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