Defence related stocks continue to trade in overbought territory, as momentum sees elevated sentiment.
These 5 buzzing stocks may rise up to 15% in the coming sessions
Selective textile stocks are developing robust chart structures
The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness.
Ravi Nathani, independent market analyst shares his trading strategies for Nifty Energy, and Nifty Commodities indices
Market participants closely monitor the RSI to determine the strength based on 70 and 30 values. This assists in identifying instruments that are supposedly experiencing increased buying or selling.
The share price of Maruti crossed Rs 10,000 mark for the first-time ever on Wednesday, after the company launched Invicto - its first car in Rs 20 plus lakh segment.
Ravi Nathani, independent market analyst shares his trading strategies for Nifty Metal and Nifty Pharma indices; check out
Barring Eicher Motors, which is presently struggling near its 200-DMA; Bajaj-Auto, TVS Motor and Hero MotoCorp may rally up to 15%
Bank of Baroda shares hit a new 52-week high and are course to achieve all-time high
Pharm index has broken out on upside, with the positive rally anticipated to hit 14,450
While index requires to scale major hurdles, the aggressive rally towards those has triggered positive upside in IT stocks.
For the S&P BSE Sensex and the Nifty50, the 200-DMA is placed at 60,570 and 17,947 levels.
FIIs continued to roll their bullish bets on Index and have slightly reduced their longs in Single Stock Futures, says Nuvama Alternative & Quantitative Research report.
According to Ravi Nathani, an independent technical analyst, the outlook for Nifty Metal, Energy and Pharma indices is bullish and hence recommends to buy at CMP or on dips.
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.
According to Ravi Nathani, an independent technical analyst, the bias for Nifty Metal Index is likely to remain bullish as long as it holds above 5,910.
Trend of brokerage firms appear attractive on technical charts, progressive uptrend to continue.
According to Ravi Nathani, an independent technical analyst, the current consolidation in Nifty Pvt Bank index is more time-based rather than price-based.
The overall trend in these stocks remain positive, however crucial hurdles need to be conquered to rally further.