According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is consolidating in the 23,460 - 24,460 range.
Stocks setting new 52-week highs demonstrate aggressive chart structures
Meanwhile, the Nifty Pharma chart too is flashing caution signal for traders as it too could reverse, says Ravi Nathani, an independent technical analyst.
Meanwhile, charts suggest that the Nifty Metal index too may be due for a reversal or consolidation, says Ravi Nathani, an independent technical analyst.
Technically, ICICI Bank is poised for an upside up to 10 per cent, while ICICIGI must sustain over the 200-DMA
According to Ravi Nathani, an independent technical analyst, the Nifty Financial Service Index is currently trading near the higher end of the anticipated trading band of 19,100 - 19,650.
Selective automobile stocks may soar up to 15%, show charts
Meanwhile, charts suggest that the Bank Nifty is sustains above 44,140 can rally to 45,000 - 45,300 levels says Ravi Nathani, an independent technical analyst.
Barring Fsn E-Commerce Ventures and Delhivery, Zomato, Paytm, and PB Fintech may rally up to 19%, show technical charts
Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities, recommends to buy 170 call option of PFC & simultaneously sell 180 call option of June series
According to the technical analyst, traders must adopt 'sell-on-rise' strategy for both Nifty Energy, and Commodities indices
if the Nifty Midcap index succeeds to absorb selling pressure emerging at current level of 33,000 mark, the probability of breaking out over the previous historic peak of 33,245 becomes more plausible
few selective stocks, like Gland Pharma, PVR INOX, Siemens, Upl and JK Paper may continue to slide lower demonstrating a bearish engulfing sentiment, show technical charts
So far this year, Persistent Systems is the top contender surging close to 30 per cent, while Infosys remains as the top loser, plunging 14 per cent.
Nifty Bank index may rise up to 2.25% once hits a new historic peak, shows technical charts
Among banking majors, Axis Bank, ICICI Bank, HDFC Bank and State Bank of India (SBI) appear on track to hit new all-time high in the weeks ahead, charts suggest
Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities, recommends to Buy Bank Nifty 43,800 Call option and simultaneously Sell 44,300 Call of the May series.
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index can dip towards the 23,000 level, while Commodities index could test 5,605 on the downside.
Technically, State Bank of India's shares are well placed above the breakout mark of Rs 565 from a short-term to medium-term perspective.
Major stocks in fertlizer sector continue to trade with bullish bias, as their chart structures denote feasible upside.