For the S&P BSE Sensex and the Nifty50, the 200-DMA is placed at 60,570 and 17,947 levels.
The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.
Trend of brokerage firms appear attractive on technical charts, progressive uptrend to continue.
The overall trend in these stocks remain positive, however crucial hurdles need to be conquered to rally further.
Shares of Delhivery and Craftsman Automation may rise up to 15% and 12%, respectively, show technical charts
Life Insurance Corporation of India and Bharat Electronics may see up to 10 per cent rally in coming sessions.
Technical chart of InterGlobe Aviation appears promising, with price action heading towards Rs 2,800. SpiceJet remains underperformer.
Shares of UltraTech Cement and Titan Company reached new historic peaks, while ABB India hit a new 52-week high on Friday
When the larger trend is strong, stocks in overbought territory tend to continue perform and stay buoyant in the face of any setback.
These stocks can gather steam provided crude prices soften and the government policies remain supportive. Here are the key levels one needs to monitor for these stocks.
Overall trend of the MRF shares has become lucrative and highly optimistic following decisive rally over the key hurdle of Rs 95,000. The short-to-medium trend is poised for 20 per cent upside.
The bullish trend in TTML, Suzlon, Paytm, Mazagoan Dock Shipbuilders and Torrent Power continues to remain resilient, anticipating up to 30 per cent upside.
Except Jindal Stainless, other metal stocks require to cross key barrier to rally forward
Nifty Financial Services is exhibiting a triangle-shaped pattern, which indicates a period of consolidation and uncertainty, says Ravi Nathani
Nifty FMCG is in the overbought zone, indicating that it is expected to trade sideways or experience a timewise or a pricewise correction, says Ravi Nathani
The breadth of the market is bullish as more than 67 per cent of the stocks are trading above their 200 DMA, says Vinay Rajani of HDFC Securities
A close below 4,050 in the Nifty PSU Bank index would likely attract profit booking in the near term, says Ravi Nathani, an independent technical analyst.
Every minor correction may see addition of long positions, say experts
Stocks setting new 52-week highs demonstrate aggressive chart structures
Shares of IDFC First Bank, IndusInd Bank, Bandhan Bank, and Axis Bank may surge up to 15 per cent, show technical charts.