Momentum indicators are in favour of bulls
The 14-period RSI has seen positive crossover affirming the bullish stance in the Dabur counter from a short to medium-term perspective
HDFC has said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis
Nifty has recently made higher bottoms at 14,416 and 14,591 and continues to trade above the 20 and 50-day SMA
HDFC Bank has also rebounded sharply and surpassed the resistance zone of moving averages ribbon on the daily chart
Oscillators like RSI and MFI have broken out from the downward slopping trendline, indicating strength in Nifty's current rally
Pidilite's stock is in a secular uptrend and has formed a bullish Harami candlestick pattern on the daily chart
According to analysts, market rally in the new calendar year may not be as sharp as seen in recent months as the markets are currently pricing in a lot of positives
Nifty has broken out from the rising wedge pattern on the daily chart
The level of 11,000 might act as support
Wipro's stock has provided breakout from a symmetrical triangle formation on the daily chart with higher than average volumes
TVS Motor's stock has failed to surpass the resistance zone of the long-term moving average on the daily chart
One can develop his/her own remote model, which should be able to achieve over 80 per cent accuracy.
Mahindra & Mahindra's stock has provided a breakdown from a rising wedge pattern on the daily chart
For Tata Steel, keep a stop at 380 and go short
Indications are in the favor of marginal consolidation followed by steady rebound ahead for Marico
Marico has currently given a decent bounce with a positive bias and the RSI is also showing a trend reversal with a buy signal
Nifty view and stock recommendations by Vaishali Parekh of Prabhudas Lilladher
For Titan's stock, keep a stop at 1,165 and go short. Add to the position between 1,140-1,145. Book profits at 1,135.
Nifty is able to breach the level of 11,800, it will lead to sell-off which will open the risk of correction up to 11,650