TCS' stock has provided a breakout from a descending triangle pattern on the daily chart
The recent high of 11,794 would continue to act as strong resistance for the Nifty
The stock of Bajaj Auto has breached its short term 21-DMA which was placed at 3020, which will now act as a major resistance
The entire banking space seems to have revived and is seeing a catch-up move to the broader market
Banknifty has also started joining the market rally
Nifty has broken out from the rising wedge pattern on the daily chart
Nifty's momentum indicators and oscillators on the weekly scales are still in 'buy' mode
BHEL's stock has provided a breakout from a falling wedge pattern on the daily chart
Traders are advised to hold Nifty longs with 11,200 stoploss and keep it trailing as Nifty rises
One can see a formation of 'Bearish Engulfing' pattern on Tata Motors' daily chart
The momentum indicators and oscillators on the weekly scales are still in 'buy' mode
NIfty has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames
Sun Pharma's counter has provided a fresh breakout after retesting its rising channel on the daily chart
On the downside, a move below 11,100 would lead to immediate correction towards 10,950 - 10,880 levels
Glenmark Pharma's stock is taking the support of a rising trend line
We can witness short-covering move along with the addition of fresh position only if the Nifty breaches 11,200 level.
The stock of Tata Consumer Products made a fresh all-time high and has provided breakout from a cup pattern on the daily chart
Glenmark's stock has reclaimed its short term 21-DMA
The level of 11,000 might act as support
Nifty is in continuation of an uptrend