The stock of City Union Bank has witnessed a decent erosion from the peak of around 240 levels and has bottomed out near 110 levels
Technically, the Nifty has managed to surpass the '20-day EMA' for the first time since Feb 24. Looking at the way charts are shaped up, Nifty can extend towards 9,500-9,700 over the next few days.
As far as levels are concerned, 8,000 followed by 7,800 would be seen as immediate supports
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Stock of Lupin is showing sign of oversold on RSI indicator. Breakout from the level of 638 would lead stock to witness more upward movement.
As per weekly option data, handful of call unwinding on higher strikes ranging from 10,000 to 10,300 can be seen which shows Nifty is losing its resistance in sub 10,200 zone.
Rising cases of Coronavirus outside China and its impact on economic growth has put investors in negative sentiments.
The previous bottom on the Nifty daily chart is placed at 11,614, which can also act as far support.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Once Nifty surpasses 12,160, we may see Nifty retesting of 12,220 - 12,250 levels
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
The RSI of SBI Life indicates a trend reversal to signal a buy and with decent volume participation witnessed.
Infosys has been gradually rebounding for the past three months, after a sharp decline from its record high.
Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities.
IRCTC has given a decent rally recently and now, after a brief consolidation, has again given a breakout and we anticipate further upside move in the coming days
Nifty is expected to bounce or retrace 50 per cent of the recent fall. Hence a bounce till 12,150 can't be ruled out.
With the consolidation with a positive bias witnessed in Mahindra & Mahindra in the last 2-3 days, further rise is likely in the days to come
Balkrishna Industries is currently hovering in a range while holding strong above the support zone of 20 EMA on the daily charts
The weekly trend in Nifty and BankNifty continues to be down. The support for the week is seen at 40,300/11,820, while resistance is seen at 41,980/12,380
The stock price has given breakout on the daily chart by trading above the downward sloping trendline resistance.