The overall trend is optimistic till the Nifty PSU index defends the support of 2,000 mark on the closing basis
The price hike has attracted the attention of market participants, now the stock needs to cross significant resistance to move ahead.
The stock price has witnessed running correction of 10 per cent from the recent high
Whenever, the +D and -D make a crossover, the trend is expected to shift in a more concrete manner in the respective trend in all time frames
Pidilite's stock is in a secular uptrend and has formed a bullish Harami candlestick pattern on the daily chart
Adani Enterprises, Berger Paints (I), Bharti Airtel, Eicher Motors, Grasim Industries are among the other notable names
On the monthly time frame, the breakout above Rs 500 levels earlier has triggered strong upward momentum
Edelweiss Securities expects earnings momentum in the sector is likely to accelerate in Q3FY21 driven by good start to Rabi along with a healthy cash flow position of farmers
If the Nifty PSE Index sustains above 2,800 levels on the closing basis, it may see a rally towards 3,100 levels
HDFC Life stock has provided a breakout from a falling channel on the daily chart and the conservative target for the same is coming around Rs 680 levels
Edelweiss Securities says that the robust tech up-cycle would benefit firms like HCL Technologies, Infosys, TCS, and Tech Mahindra
Moving averages have a great role in the channel breakout
The change in colour, sometimes exhibits a shift in trend as well as sentiment
A confirmed breakdown reflects upcoming selling pressure when significant levels are expected to get broken. Even investors look for early exits.
The momentum indicators and oscillators are in the buy mode on the daily scale for Muthoot Finance
Unless there is a breakout with definite consecutive closes, one should not be too quick to 'confirm' a trend. It is very essential to ascertain a trend; sometimes, having a dull scenario on the chart
A short-covering move, along with addition of fresh position, is seen only if somehow Nifty sustains level of 11,200
The momentum oscillator MACD has provided fresh sell crossover on the weekly scale for Piramal's stock
RIL soared 3 per cent to Rs 2,276.50 on the BSE on Wednesday in intra-day trade, after the company announced that global investment firm KKR will invest Rs 5,550 crore in Reliance Retail Ventures
Till Nifty Bank defends the support range of 20,800 to 20,600 level, the rebound may see aggressive buying momentum.