Defence related stocks continue to trade in overbought territory, as momentum sees elevated sentiment.
These 5 buzzing stocks may rise up to 15% in the coming sessions
Selective textile stocks are developing robust chart structures
The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness.
Selective tyre stocks are displaying resilient chart structures, poised to scale higher levels from a medium-term perspective.
Market participants closely monitor the RSI to determine the strength based on 70 and 30 values. This assists in identifying instruments that are supposedly experiencing increased buying or selling.
Barring Eicher Motors, which is presently struggling near its 200-DMA; Bajaj-Auto, TVS Motor and Hero MotoCorp may rally up to 15%
Bank of Baroda shares hit a new 52-week high and are course to achieve all-time high
Pharm index has broken out on upside, with the positive rally anticipated to hit 14,450
While index requires to scale major hurdles, the aggressive rally towards those has triggered positive upside in IT stocks.
For the S&P BSE Sensex and the Nifty50, the 200-DMA is placed at 60,570 and 17,947 levels.
The overall trend in these stocks remain positive, however crucial hurdles need to be conquered to rally further.
Shares of Delhivery and Craftsman Automation may rise up to 15% and 12%, respectively, show technical charts
Selective AMC stocks like HDFC Asset Management Company and Nippon Life India Asset Management may rise up to 15%
Life Insurance Corporation of India and Bharat Electronics may see up to 10 per cent rally in coming sessions.
Technical chart of InterGlobe Aviation appears promising, with price action heading towards Rs 2,800. SpiceJet remains underperformer.
Banks, Auto, FMCG, Hospitals, Domestic Industrials, and Discretionary may continue to outperform the 'Export + Cyclical'-oriented themes
Mehul Kothari of Anand Rathi recommends accumulating Wipro as it nears 560-570-mark
Any positive development in the travel industry may boost related stocks.
The broader indices lagged in trade on Monday. The BSE Midcap and Smallcap indices ended with losses of 0.9 per cent and 1.9 per cent, respectively