Off late, the private banks have underperformed but they are showing signs of base formation
For Nifty, the immediate resistance zone can be seen around 14,575-14,650, where a sustainable move beyond 14,650 would negate the possibility of further correction
We anticipate for further upside movement in the coming days in HDFC and RITES stocks
The recent correction in the markets dragged Bajaj Finance's from the high of Rs 5,800 towards Rs 4,400-mark
The price pattern is very strong on the technical parameters and Dr Reddy's Labs could outperform once there is more clarification on the developments of vaccine
The stock of HDFC AMC is moving above the 50-EMA level of 2,935 and is showing further strength
All the stocks are trading above their respective important averages, indicating upward bias
The short-term trend of the stock is positive as stock price is trading above its 5 and 10-day EMA
The mean of the Bollinger band has historically proven strong support for Adani Enterprises, making it a favourable risk-reward ratio for a short-term duration
Hind Petro has been witnessing profit-taking in line with other OMCs and now reached its major support zone of long-term moving average(200 EMA) on the daily chart
The chart of Escorts looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy
HDFCAMC has corrected from its recent high of 3360 odd levels and has consolidated near the 61.80% of the Fibonacci retracement
The stock price has already given bullish breakout from the downward slopping trendline adjoining the highs of 08-Dec-2020 and 12-Jan-2021
It is better to take stock-specific approach as the Nifty index is likely to remain choppy. Midcap and Smallcap Indices are expected to outperform
Nifty index can witness profit booking only if it breaks level of 14,800
The stock of SBI Card has witnessed a decent correction from the peak of 1139 levels and has bottomed out near 920 levels
The favorable indication from the pharma index is added positive for Biocon's stock
Godrej Consumer's chart looks attractive with the RSI also improving the bias and indicating strength for further upside move in the coming days
The stock of Adani Ports has seen some correction from its lifetime highs and, in the last two days, it witnessed a reversal
RSI Indicator has given 'buy' signals on Biocon and VIP Industries' stocks