IGL has witnessed a breakout from the consolidation range of Rs 500-545 levels after spending nearly four months there
A perfect Death Cross is usually followed by a long-term downtrend that might last even for a year
NOCIL has been trading in a symmetrical triangle pattern on the daily time frame
Any move below the zero line is inferred as a bearish signal where prices are expected to fall further.
Here are trading strategies for a few such counters that look bullish on the charts and can appreciate at least 20 per cent from here on in the next two months
The MFI study on the daily and weekly chart assists in identifying short-term trade for quick gains
The reversal levels are considered as the stop loss for the trading position
Shares of Asian Paints and Berger Paints India hit their respective record highs on the BSE in May
Out of these 20 counters, only 4 stocks are showing weakness in the overbought condition and can correct in the days ahead.
Despite the Sensex and Nifty indices reclaiming their crucial resistances, this situation on chart indicates weakness and hints at a probability of further decline
Upon crossing the immediate resistance, Axis Bank's stock may see a rally towards Rs 750 and Rs 765-mark
We finally witnessed a decisive price and volume breakout from the recent congestion zone in Strides Pharma
Generally, trading in line with the direction of the market sentiment is considered a safer approach, since the risk-return ratio is more favourable
Stocks like SBI and Bank of Baroda can expect a surge of over 5 per cent in coming sessions.
The ability to analyse charts not only boosts a trader's morale but also helps one acknowledge the risk involved.
With Friday's move, 15,200 - 15,400 has become a sturdy wall for Nifty and it would really be a daunting task surpassing this in the absence of any major trigger
Knowing all the do's and don'ts of trading in regards to learning process and failures, one needs to be clearly focused on the risk management.
A breakout may lead the stock to Rs 480 and Rs 500 levels
Short-term resistance for the Nifty is seen at 15,470-odd levels
The overall trend is optimistic till the Nifty PSU index defends the support of 2,000 mark on the closing basis