Voda Idea is seen trading consistently above the 200-DMA after a gap of more than 1 year; a weekly close above ₹8.26 shall further strengthen the stock, suggest technical charts.
Data shows that as of date 36 out of Nifty 50 shares, and 314 out of Nifty 500 stocks were trading above the long-term 200-Day Moving Average.
Penny stocks such as Reliance Home Finance, Aksh Optifibre, Steel Exchange India and 2 others, trading below ₹10 per share, seem to be favourably placed on the charts.
Technical charts suggests that steel stocks are favourably placed on the charts, and could see a multi-month rally with a potential upside up to 24 per cent from here.
Technical chart indicates that the short-term bias for the Nifty is likely to remain tepid as long as the index quotes below 25,065 levels.
Technical charts suggest that Reliance group stocks such as Jio Financial Services, Network18, Just Dial, Alok Industries and Den Networks can crack up to 21 per cent from here.
Reliance Industries stock needs to break and trade consistently above ₹1,441 levels for further gains to emerge, suggests technical chart.
Short term trend is positive as it is placed above its 5, 11 and 20 day EMA Stock price has broken out on the weekly chart with higher volumes
Technical charts suggest that the Nifty needs to overcome the hurdle at 25,120 levels for the short-term bias to turn favourable; detailed analysis below
Paytm stock was in focus on Tuesday amid reports of Chinese investor Ant group likely to exit its entire stake via block deal. Tech charts show Paytm looks favourably placed for now.
Market Technical outlook: Sensex, Nifty may witness some bounce back as benchmark quote in oversold zone; chart shows major hurdles at 81,900 and 25,325 levels for these indices.
Technical charts show that the Nifty IT index could decline another 11% from here; while the Pharma index could rally up to 8.5% if it clears the near-term hurdle at 22,815 levels.
Technical chart shows that the Nifty has dipped below its short-term moving averages, and broken below the trend line support.
Stocks to buy: NTPC Green Energy, HUL and Eveready Industries are the top technical picks for Kunal Kamble of Bonanza Portfolio
Technical chart suggests that the key monthly support for the BSE Sensex stands at 81,300 levels; break and sustained trade below the same can trigger a sharper fall.
The Department of Technical Education (DTE) Telangana will soon out the Polytechnic Common Entrance Test (POLYCET) counselling round 1 seat allotment result on the official website at tgpolycet.nic.in
Silver trading strategy: The metal, at the time of writing, was trading at $36.75, up 1 per cent on the day, while the corresponding MCX Silver contract, gaining 1.45 per cent was noted at ₹1,08,825
Silver price today: At the time of writing this article, spot silver was changing hands at $36.42, down around 1 per cent on the day
Gold rate outlook: At the time of writing this report, both spot gold and the MCX August gold contract were down by 1 per cent on the day. The spot gold was hovering around $3,295
FMCG sector seems to have bottomed out as many largecap FMCG stocks have turned bullish on the short term charts