The momentum indicator for FDC has reversed from the overbought territory which hints of further positive momentum in the counter
On the lower side, 11,350-11,200 would be seen as a key support zone
Britannia's stock has shown signs of bottoming out
The momentum indicators and oscillators on the weekly scale are very well on buy mode. The volatility index --India VIX -- has also started cooling down which is giving comforts to the bulls
It would be advisable to remain bearish in the market unless Nifty surpasses the resistance of 11,585
The momentum indicators and oscillators are very well in the buy mode on daily as well as weekly scales which hints of a further positive momentum in TCS
Sun Pharma's stock is in a rising trend
Looking at the technical set up, with last week's price activity, we can see a formation of 'Bearish Engulfing' pattern on weekly chart
Short term trend of the stock is positive where stock price is trading above its 5- and 20-day Moving Averages
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 stock of United Spirits has taken support near 570 and is forming a double bottom pattern in the daily chart
After a sharp dip in March 2020, Britannia Industries has recovered almost vertically and made a new record high at Rs 4,010 in July 2020
The stock of Federal Bank has picked up momentum to improve the bias and with the RSI indicator indicating a trend reversal
Grasim is witnessing a breakout from the range where it has spent the last two months
Traders are advised to hold Nifty longs with 11,200 stoploss and keep it trailing as Nifty rises
The stock of Wipro has provided breakout from a flag and poll pattern on the daily chart which is considered as a bullish continuation pattern
The stock of ABB has maintained a good base near 890 levels and has picked up momentum to improve the bias
Short term trend is positive where stock price is trading above all Important short-term moving averages
We can witness short-covering move along with addition of fresh position only if Nifty breaches level of 11,350. Therefore, traders should try to create long position, keeping close eye on 11,200