NIfty has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames
The stock of Cochin Shipyard has maintained a strong bottom near 320 levels and has given a bullish positive candle to imply strength
The short term trend turned positive for NMDC as it has closed above its 5 and 20-day SMA
Glenmark Pharma's stock is taking the support of a rising trend line
TITAN, after the breakout from a consolidation range, is gradually inching higher while holding strongly above the support zone of the long term moving average( 200 EMA) on the daily chart
This sharp recovery could end up being a dead cat bounce, as the trend-line support which was recently broken could act as a resistance at 11,250
The stock of Tata Consumer Products made a fresh all-time high and has provided breakout from a cup pattern on the daily chart
For the early part of the week, 11,200-11,250 should be considered as an immediate resistance zone for Nifty.
The stock of ICICI Bank has once again made a good support base near 340 levels and is currently indicating a trend reversal
The stock of IndusInd Bank has maintained a good base near 485 levels and has indicated a momentum pick up with positive bias
TITAN has been trading within 940-1030 zone for almost one and a half months, taking a pause after a sharp rebound
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
The stock of ICICI Bank has made a good support base near Rs 340 levels and is currently indicating a trend reversal
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
We might witness weakness only if Nifty breaks level of 10,700
The stock of Divis Labs has witnessed some correction and has showed signs of bottoming out near 2140 levels. The RSI is showing a trend reversal from the oversold zone to signal a buy
The stock price is also placed above all important moving average parameters
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 current chart formation, along with the positioning of the confirmation indicators, are all pointing towards a fresh breakout ahead in Axis Bank's stock