The Nifty seems to have completed wave B of the bounce and wave C up on the hourly charts is expected
As per weekly option data, a handful of call writing on higher strikes ranging from 11,800 to 12,200 is observed which shows Nifty is witnessing strong resistance in the sub-11,800 zones.
The bias remains corrective and cautious. However, it is also time to cherry-pick good stocks like SBI, Maruti, Tata Steel, FMCG, etc to accumulate.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
We may see Nifty going back to 12,300 - 12,390 ahead of the budget and a positive outcome would enable it crossing this sturdy wall of 12,400 convincingly.
The support for the week is seen at 40,950/12,030 while resistance is seen at 42,260/12,460. Bank Nifty would have a range of 30,580-31,880
The Nifty is likely to bounce till 12,300 levels in the short-term after which it is again likely to correct
The RSI on GIC Housing Finance's chart is showing a trend reversal and the chart looks good too for the further upside
Currently, Ramo Cements' stock is hovering in a range, after a sharp up move, offering fresh buying opportunity to those who missed the chance earlier
Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities
The Nifty has provided a sell crossover on its hourly charts and with that, the index seems to have reversed the overall trend in the short term.
Stock calls and Outlook on Nifty by Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.
Biocon has maintained a strong base near 280 levels which is a good support level and currently has indicated a positive bullish candle pattern to imply strength
The daily, as well as weekly momentum indicator MACD for Nifty, is well in the buy mode
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
On January 14, Berger Paint's stock surged strongly and made a new record high, supported with a noticeable rise in volume
The RSI in Exide's chart is on the rise and looks strong with good volume pick up
In Nifty, traders are advised not to be adventurous by taking positions against the major direction
Stock calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
Escorts has picked up momentum with a positive bullish candle pattern with decent improvement in the volume participation to show a positive bias and imply further strength in the coming days.