Muthoot Finance and Manappuram Finance have gained up to 19% thus far in June after RBI eased norms on small-ticket gold loans. Technical charts hint that these stocks can potentially rally 32% more.
Technical charts suggest that midcap stocks such as APL Apollo, Exide Industries, Grindwell Norton, Fortis Healthcare and Lupin may trade with a weak bias in the near-term.
The Nifty MidCap index can slip another 4%, or extend the fall towards 19,600; hints the technical chart. The SmallCap index is yet to confirm a downside breakout.
Hindustan Zinc stock was seen testing support around its super trend line support on the daily chart after two months; a breakdown can trigger up to 18% fresh fall, suggests the technical chart.
The average gain for Ambuja Cements, an Adani group stock, after witnessing 'Golden Cross' formation has been 86% in the last three instances; can history be repeated? Here's what the charts say.
Technical chart suggests that Bajaj Finance stock could rally towards the ₹1,000-mark in short-to-medium term period; here are the key levels to watch out for.
The BSE Sensex may trade in the 79,600 - 82,600 range this week; technical chart indicates that the bias is likely to remain positive above 79,150 levels. Nifty near support seen at 24,512.
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