Tata Motors' stock has provided breakdown from a head and shoulder pattern on the daily chart
The entire pharma space has been in limelight since the coronavirus pandemic outbreak
The likelihood of a short-covering move along with addition of fresh position exists only if Nifty breaches 11,200
Bata India's stock is on the verge of a breakout from a downward sloping trend line
The momentum indicators and oscillators are very well in the buy mode on the weekly scale which hints that bulls are making a comeback and the current pullback is likely to extend further
One step at a time is the strategy to follow and better to timely book profits in the rally. Traders are advised to keep following stock specific moves and the base now remains at 10,660 - 10,560
Momentum oscillator MACD has provided a fresh buy crossover on Nestle's daily chart
Wipro's stock has provided breakout from a symmetrical triangle formation on the daily chart with higher than average volumes
The index may see some profit-booking once it reaches the 78.6 per cent retracement zone of the entire fall i.e. 11,000-11,200 levels
The volatility index, IndiaVIX, fell by 5 per cent and ended at a 4-month low of 24.75 levels on Thursday
Nifty is continuing its uptrend and looks set to achieve 76.4% retracement of the entire fall seen from 12,430 to 7,511.
The overall fall in volatility is hinting at no major move in the short-term
Technically, the bullish structure remains intact as long as Nifty trades above 10,200-10,300
The NIFTY index completed its 61.8 per cent Fibonacci retracement of the entire recent fall from the top, which is coming around 10,552 levels.
SBI's stock has formed a bullish flag pattern
Traders are advised to avoid carrying aggressive bets overnight while trading in Nifty
Traders are advised to avoid carrying aggressive bets overnight while trading in Nifty
Market overview and technical calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Mphasis' stock has provided breakout from a consolidation zone
The support for Bank Nifty is seen at 21,500, while Nifty has got support at 10,300.