Technically, the near-term bias for the Nifty is likely to remain favourable as long as it holds above 24,512; below which the index can slip another 2 per cent to test its 200-day moving average.
The Nifty Pharma index and select shares such as Biocon, Cipla, Zydus Life and Gland Pharma were trading above the respective 200-DMAs after more than 2 months; show technical charts.
Technical chart shows that bias for Paytm stock is likely to remain cautiously optimistic as long as the stock manages to close above ₹883. Here are the key levels to track.
Stocks to buy: Bajaj Auto is witnessing steady volume, and the price has managed to close above all major Exponential Moving Averages
Alok Industries, HFCL, Just Dial, Network 18, Den Networks and Hathway Cable, part of RIL-group holdings, were seen trading with huge losses even as RIL stock hit a 8-month high on Wednesday.
BSE and MCX share prices trade at all-time high levels. Technical chart suggests a likely positive bias for MCX and IEX stocks, while BSE may witness high volatility in the near-term.
Technical charts suggest that stocks like Hindustan Motors, HCC, Paisalo Digital, Equitas SFB and Suzlon Energy, which at present trade below ₹100; can potentially zoom up to 73% from here on.
Stocks to buy: Arkade Developers, Aditya Birla Real Estate and Ujjivan Small Finance Bank are the top technical picks for Kunal Kamble of Bonanza Portfolio
Technical indicators suggest that Eternal and Trent may be entering a period of sustained growth, according to Osho Krishan
HDFC Bank, Bajaj Auto, Eicher Motors, L&T Finance and Prestige Estates can potentially rally up to 26% from present levels, indicate technical charts.
Nifty trading strategy: With a likely trading range mentioned above for the coming week, a Short Strangle strategy could be an effective way to capitalize on expected consolidation
Silver price outlook: The white metal consolidated its gains on June 3 as the US dollar index strengthened
Stocks to buy: Motilal Oswal suggests purchasing these on three stocks today
The Nifty has hit a new high in each of 5 occasions post formation of 'Golden Cross' on the daily chart since 2019, clocking an average gain of 24.4%; shows historical study.
Motilal Oswal reserach desk have suggested buying M&M, Bharti Airtel, PNB and others today; here's why
The Nifty index has encountered profit booking during the initial half hour, leading to a decline towards the 24,500 zone; Check strategy, stock picks
Stocks to buy: Brigade Enterprises has given a breakout from a falling parallel channel pattern, indicating a potential trend reversal
The Nifty PSU Bank index has surged 30% from its March low, with 7 out of 12 bank stocks up more than 25%. Here's a technical outlook on key bank stocks - SBI, Bank of Baroda and Canara Bank.
Technical chart suggests that the bias for Indian Bank stock is likely to remain bullish as long as the stock holds above ₹627 levels; on the upside it seems on course to hit ₹666 levels.
Nifty technical outlook: With a likely trading range mentioned above for the coming week, a Short Strangle strategy could be an effective way to capitalise on expected consolidation