ICICI Bank remains strong on charts post delivering Q1 results last week
The overall trend of the stock has been sideways since the end of 2021. However, striking a new all-time high could spark the next rise in the stock.
According to Ravi Nathani, an independent technical analyst, all the three indices are presently displaying a bullish trend on charts.
New-age companies may rise up to 29 per cent in the forthcoming seasons as market sentiment improves amid record-breaking run in benchmark indies
Listed NBFC stocks are currently facing selling pressure at higher levels, show technical charts
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma index needs to clear hurdle at 14,150; whereas, the Realty index may show signs of correction by the month-end.
Overall trend - the Nifty Small cap index continues to remain highly robust, with an intend to reach a new historic high.
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could trade in the range of 19,612 - 19,819 in the near term.
Meanwhile, the Nifty FMCG index is expected to consolidate in the range of 53,971 and 52,484, says Ravi Nathani, an independent technical analyst.
The range breakout in both the indices have triggered fresh upside
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.
Selective IT stocks may rise up to 22% in the upcoming sessions, as per their technical charts
Technically, when any stocks crosses crucial hurdles and witnesses accumulation at key supports, the trend is expected to witness robust upside ahead.
Once the range of Rs 3,380 to Rs 3,350 is conquered, TCS shares are set to hit a new historic peak. HCL Tech, meanwhile, may slip under Rs 1,000 if it fails to hold the 200-DMA
Delta Corp needs to cross the 200-DMA to regain the momentum, while Nazara Technologies must hold the 200-DMA as a support.
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