For Nifty Bank, the immediate resistance comes in the range of 20,500 to 20,000 levels
Nifty PSU Bank index is showing a consolidation in the range of 1,600 to 1,200 levels. On the other hand, 22,000 mark is crucial for Nifty Bank.
Whenever a stock shows a consolidation pattern, one needs to wait for the breakout.
The reversal may see selling pressure at higher levels. However, the downside significant supports stand still in these corrective moves.
Whenever the Nifty pharma index has dipped below oversold territory on the Relative Strength Index (RSI), it has seen a stable rise.
VIX is meant to indicate investors' perception of the annual market volatility over the next 30 calendar days.
Mindtree will see an upside bias once it breaks out above Rs 920 levels
On a year-to-date basis, the benchmark Nifty is down around 14 per cent
Barring Wipro, all the other major tech companies have outperformed the benchmark Nifty50 index which has slipped 7.6 per cent till date in 2020
The study of the same recurring patterns in the financial markets assists in developing trading strategies
Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition
The Nifty 50 is trading around 200-DMA; if the selling pressure mounts then the index may see big selling pressure on stocks
The Nifty Midcap index may rally towards 21,000 levels
Infosys has been gradually rebounding for the past three months, after a sharp decline from its record high.
Except Sun Pharma and Lupin, others have grown significantly and are showing less reversal signals.
Major hits were seen in front runners such as ACC Ltd, Ashok Leyland, and HDFC.
A candlestick defines the price movement and depending on the formation, one can determine the current sentiment and predict a trend.
Most stocks are witnessing selling pressure at higher levels. If that gets conquered, a fresh upside of 3-5 per cent is expected to happen.
Except Voltas and Britannia, others may see selling pressure on every upside.
Except BPCL, the others show a weaker trend. However, the correction seems to have slowed down.