The Nifty Auto index and the key stocks are trading near significant resistance levels while exhibiting sideways movement, upside breakout could see significant long additions.
Going ahead, charts indicate likely revival in investor sentiment with further uptick in prices.
The Nifty Metal index can gain another 3 per cent as long as the index maintains above 6,300-level on a closing basis.
The technical analyst also expects the Nifty to rally to 17,484 to 17,794; the support is now raised up to 17,100 level.
According to the technical analyst from Anand Rathi, Cummins India has confirmed a multiyear breakout above the Rs 1,050-level.
The Nifty Pharma index has crossed its near-term resistance at 13,700, and may spurt another 1.5 per cent.
According to the technical analyst from Anand Rathi, it is a good time to buy HUL as the stock recently retested its 200-WMA after a gap of 10 - 12 years.
Paper stocks have rallied over 20 per cent in the recent past on hopes of higher demand as schools, offices reopen for normal functioning; charts indicate more upside.
The technical analyst expects the Nifty to turn bearish below 16,555; whereas on the upside sees resistance around 16,927 and 17,040 levels.
Despite the correction, our valuations relative to other emerging markets (EMs) haven't yet come off. Thus, FIIs are a bit cautious
BSE stock is decisively claiming new all-time high; CDSL broke out of Double-Bottom formation, while IEX has witnessed an Inverse head and shoulder breakout.
Banking shares have bounced back strongly in trades on Thursday amid hopes of a peace deal between Russia and Ukraine on planned diplomatic talks.
Both, Indigo and SpiceJet had broken major key levels; For reversal to take place these stocks need to conquer near-term hurdles and show sustainability.
With Nickel, Gold and wheat also hitting multi-year highs like Crude Oil, these five commodity related shares are likely to witness strong gains, indicate charts.
ONGC is set to gain another 12 per cent in the upcoming sessions, while other oil related stocks show weakness.
The Nifty Auto index has broken key support levels, and looks weak on the weekly charts indicating a downside of 5 per cent.
Pfizer is near its long-term support, which it has defended for the last five years. A rebound can trigger a 10 per cent upside for the stock.
The price hike may spark a bullish rally in dairy-related stocks like Hatsun Agro Product, Heritage Foods and Parag Milk Foods indicate charts.
Coal India, GNFC, Cholamandalam, Fine Organic and Hitachi Energy can easily provide up to 14 per cent upside, indicate charts.
SpiceJet, Berger Paints and BPCL look weak on charts, while ONGC could gain another 4-8%.