Back in 2012, when the stock climbed over the same average, the stock price doubled in three years. The 50-MMA has become a decisive indicator for the shares of Vodafone Idea.
A new all-time high on Nifty FMCG index may trigger up to 25 per cent upside in selective stocks
Shares of Tata Consultancy Services, Infosys, HCL Technologies, Coforge and Persistent Systems are indicating chart structures that reflect resumption of their short-to-medium term upmove.
Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move
According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.
ITC stock needs to sustain over Rs 350 to embark a new bull-run
Whenever a stock hits a new 52-week low, further fall from a medium-term scale appears realistic, with price endorsing further correction of 10 per cent to 12 per cent.
Meanwhile, the NIFTY Pvt Banks Index is expected to seek support between 19,936 and 19,916 range, says the technical analyst.
Rail Vikas Nigam, Titagarh Wagons and Texmaco Rail & Engineering may soar up to 18 per cent in coming sessions
According to the technical analyst, the key support for the Nifty is at 17,475, below which the NSE benchmark can slide to 17,040 and 16,660 levels.
Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics have skyrocketed 87 per cent, 79 per cent, and 44 per cent, respectively, since Budget 2022
According to the technical analyst, the Nifty Energy index can drop to 24,239, and the Pharma to 12,100.
Volumes spurt were significantly higher during strong positive closes than during negative sessions.
On the upside, the Rs 6,700-odd level remains a major hurdle for Crude Oil futures; whereas, interim support for Natural Gas is placed at Rs 240.
According to the technical analyst, the Nifty Pharma index can rally up to 13,250 level, while the Media index can surge to 2,080 level.
Over half of the stocks in Nifty Metal Index are trading with a bullish sentiment ahead of Budget 2023,
According to the technical analyst, the Nifty Auto index can rally to 13,050 - 13,160 levels.
After evaluating the RIL shares on all three time frames; short-term, medium-term and long-term, it appears to be positive as long as it shields the support of Rs 2,200 levels.
According to the technical analyst, the Nifty 50 is expected to get strong support in the range of 17,925 to 18,000.
A sustained move over the 50-DMA of Rs 3,881 could see the counter heading towards recording a new historic peak