Among the losing pack, Solara Active Pharma Sciences has slumped 75 per cent, while Aarti Drugs, MCX India and Tata Communications are other major laggards
The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.
The technical analyst from HDFC Securities sees the next major support for the Nifty at 15,700-level.
The metal index on the NSE has tumbled 14 per cent so far from its historic peak and continues to drift lower
According to the technical analyst from Anand Rathi, one can accumulate Axis Bank in the range of Rs 663 - 657 with a stop at Rs 630.
Market participants should avoid bottom fishing at the these counters and wait for a fresh trend to emerge.
The derivative analyst from HDFC Securities recommends buying Infy 1,600 Call and simultaneously selling 1,640 Call for the May expiry.
In 2007, Tata Steel skyrocketed from Rs 100 to Rs 700 in less than four years; Similarly, since 2020 the stock price grew seven-fold to a high of Rs 1,534.50.
According to the technical analyst from Anand Rathi, IndusInd Bank has managed to break out from its four-month consolidation range, and can now rally towards Rs 1,070.
Stocks to Watch Today: Shares of Adani Wilmar, Jindal Stainless, Adani Enterprises, Hero MotoCorp, Tata Steel and Titan too shall be in focus ahead of the Q4 results.
Blue Star is in a long term bull trend and may continue to remain a favorite for market participants.
According to the technical analyst from Anand Rathi, Hindalco has found support around its 200-DEMA, and seems poised for a potential reversal in the short-term.
Fertilizer shares have been the outperformers so far in 2022, gaining up to 100%; While the bullish sentiment seems overrated, charts indicate continuation of the uptrend.
Except for Max Financial Services other insurance related shares seem to be on a weak ground, indicate technical charts.
The technical analyst from HDFC Securities recommends buying Action Construction Equipment and Bandhan Bank.
Overall, the Nifty IT index has declined 19 per cent from its historic peak of 39,446 recorded in early January, 2022. Charts indicate 31,000 to 30,000 as the accumulation range for the index.
According to the technical analyst from Anand Rathi, Genus Power has confirmed a multi-year breakout above the Rs 95 mark, and seems poised to rally towards Rs 140 in the next few months.
NTPC, Adani Ports, Coal India, M&M and BPCL can rise higher, indicates technical charts
According to the technical analyst from Anand Rathi, Suntech Realty is on the verge of breakout; whereas, Tata Power is testing its key support.
The BSE Telecom index is likely to gain up to 3.50 per cent, as the index firmly holds the support around the 100-DMA, shows chart.