Stocks picks by Angel One: Fortis Healthcare is in a secular uptrend, hovering above its EMAs (Exponential Moving Average) on the daily time frame chart
The Nifty 50 Index is currently trading within a short-term range of 22,800 to 21,700. A breakout above or below this range could signal the next directional move for the index
The Nifty Auto Index, currently trading at 21,896.90, is exhibiting a downward trend on the near-term charts. Given this scenario, the optimal trading strategy would be to adopt a "sell on rise"
The Mid-cap index is displaying robust momentum, with price action headed towards 40,000-level.
So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy
Barring, Pfizer, Gland Pharma, and Laurus Labs, all other constituents of Nifty Pharm Index trade over the 200-day simple moving average (SMA),
Trend in Bajaj twins remains sluggish and may slide in bear's grip if key levels are breached
Technical charts of M&M shows weakness, while RBL Bank continues to remain resilient.
Shares of IDFC First Bank, IndusInd Bank, Bandhan Bank, and Axis Bank may surge up to 15 per cent, show technical charts.
When Nifty Realty index hits a new 52-week high, the next positive rally shall aim at setting a new all-time high
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18,125 will trigger some strength for bulls on Nifty50 index whereas the expected targets would be 18,180 - 18,225 - 18,300
The stock price of PFC has broken out from the downward slopping trendline on the weekly chart
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
The secular uptrend in KIE Industries' stock has proved all minor corrections to be good accumulation points for the bulls
Bector Food has seen a secular rally from its 52-weeks low of Rs 328 odd zones and since then there has been no major correction in the counter
Banking stocks' gain on Friday may provide impetus for the extended rally going forward
We could see contribution from the broader market too in the coming days
The stock of SBI has bottomed out near 145 levels and gave a decent bounce to improve the bias and is currently in a rising trend.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor