Paytm and Nykaa have logged smart gains gains in trade so far on Monday post Q1 results, while SBI and BPCL declined notably. Going ahead these are the key levels to be watched on these stocks.
Manappuram Finance has so far on Friday post RBI rate hike has logged its biggest intra-day gain this year, the stock along with DLF, SBI and Bajaj Auto can rally up to 14 per cent in the near term.
According to the analyst from Anand Rathi, IndusInd Bank has rallied sharply in the recent days without any corrective move, and is currently facing some headwinds at 200-WMA.
MindTree, Mphasis and Larsen & Toubro Infotech may rally up to 24 per cent, while Infosys needs to overcome its near-term hurdle for fresh gains.
The current chart formation is akin to 2011, provided ITC ends August on a positive note. Post which, the stock can potentially double from current levels.
The broader markets have pulled back sharply, with the benchmarks Sensex and Nifty 50 now up 15 per cent each from the June lows.
According to the analyst from Anand Rathi, SBI has not seen any meaningful correction, and the stock now hovers near the multiple tops zone.
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Despite the buzz in the telecom sector with the ongoing 5G spectrum auction, Bharti Airtel and Voda Idea need to break and sustain above their respective 200-DMAs for hopes a rally to emerge.
The technical analyst also recommends to hold Nifty longs with a stop at 16,300; on the upside, he expects resistance for the NSE benchmark around 16,800.
All metal stocks have "Death Cross", and if the current rally shows sustainability, the pullback rally would see added interest, indicate charts.
According to the analyst from Anand Rathi, GMDC can rally to Rs 168 on the upside, while NMDC can jump to Rs 114.
Shares of HDFC AMC had rallied significantly post its debut in July 2018. However, after hitting a peak at Rs 3,681 in November 2019, the stock has since then declined over 50 per cent.
ICICI Bank can rally to a new high if the stock manages to sustain above its 200-DMA; Infosys and UltraTech Cement too look promising, while Rs 2,350-level remains the key for Reliance Industries.
After the massive slaughtering post April 2022, sugar stocks consolidated in June and are now witnessing a pullback rally.
According to the technical analyst from Anand Rathi, Cummins India can rally to Rs 1,400 on the upside, while Wipro can target Rs 450.
The HUL chart has seen breakout of the 'Inverse Head and Shoulder' after the stock conquered the Rs 2,400-level, thus indicating an upside target of Rs 3,000 in the medium-term.
While the underneath trend seems positive, Reliance, ONGC and Oil India need to sustain above the major support levels for further gains.
The technical analyst also recommends to hold Nifty longs with a stop at 16,100; on the upside, he expects resistance for the NSE benchmark around 16,520 and 16,794.
Among select export-oriented shares, Aurobindo Pharma seems well placed on the charts with a potential upside of 9 per cent in the near term.