Once the range of Rs 3,380 to Rs 3,350 is conquered, TCS shares are set to hit a new historic peak. HCL Tech, meanwhile, may slip under Rs 1,000 if it fails to hold the 200-DMA
The RSI for Nifty Pharma shows a pattern of lower highs and lower lows on the near-term charts; Nifty Auto is in the overbought zone and could see a potential correction
Delta Corp needs to cross the 200-DMA to regain the momentum, while Nazara Technologies must hold the 200-DMA as a support.
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
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.
The share price of Maruti crossed Rs 10,000 mark for the first-time ever on Wednesday, after the company launched Invicto - its first car in Rs 20 plus lakh segment.
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
According to Ravi Nathani, independent technical analyst, charts suggest bullish trend for both Nifty50 and Nifty Bank indices
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 Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.
Trend of brokerage firms appear attractive on technical charts, progressive uptrend to continue.
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
Buy AB Capital Rs 170 Put option and simultaneously Sell Rs 165 Put of the June series, suggests Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.