Data Patterns (India) and Godfrey Phillips are the other two stocks which seem to be favourably placed on the charts, thus making a case for lower-risk at current levels.
Among individual stocks, Vinay Rajani, technical & derivative analyst of HDFC Securities, recommends a Buy on Union Bank and GSFC.
Among the stocks in focus on Monday, Shree Renuka Sugars looks strong on charts, while Inox Green Energy seems weak.
Buy ICICI Bank 960 Put option and simultaneously Sell 940 Put of the September series, recommends Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
HDFC Bank, Reliance Industries, ICICI Bank, Infosys and ITC collectively hold over 42 per cent weightage on the Nifty 50, and are expected to act as trend setters for the benchmark.
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma and Auto indices are at critical junctures, hence one needs to watch out for these key levels for planing trades.
Among individual stocks, Vinay Rajani the technical & derivative analyst of HDFC Securities recommends to Buy Infosys and Sun Pharma.
Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.
AIA Engineering and Ashok Leyland look weak on the chartk, while shares of IDFC Bank and REC look ripe for an interim correction, indicate charts.
While the Nifty Metal index seems headed towards its crucial resistance zone, select stocks such as Hindalco, Nalco and SAIL still have the potential to rally up to 15 per cent, charts suggest.
On the broader market outlook, Vinay Rajani the technical & derivative analyst says the breadth of the market is very strong as more than 83% of the NSE500 stocks are above their 200-DMAs.
SJVN, Tata Teleservices (Maharashtra) and TV18 Broadcast may rise 50 per cent on resilient charts
Trend among these buzzing stocks remain optimistic, as per their respective charts
The trend among stocks in oversold regions remains highly fragile and could see more downside ahead
Buy Persistent 5100 Call option and simultaneously Sell 5300 Call of the August, recommends Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
On the broader market outlook, Vinay Rajani the technical & derivative analyst says the Nifty may find a directional move on breakout from the 19,270-19,500 trading band.
The trend in these stocks remains highly robust, with price action exhibiting strong interest from market participants.
Trend remains optimistic in RIL, ONGC, M&M, KEX and Titan shares, as per their respective charts.
Selective small-cap stocks may rally up to 25 per cent, as per their respective charts
Barring Varun Beverages that reached a new all-time high and Colgate Palmolive (India), other FMCG stocks trade fragile.