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
As per the technical analyst, the best trading strategy for traders would be to buy Nifty IT either at the current market price or at dips, with a target of 31,500
OMC stocks like BPCL, HPCL are better placed on the charts; decisive move over their key hurdles could see next leg of upside
According to the technical analyst, the near-term trend for the Nifty has turned from rangebound to bullish as the index broke and closed above a previously identified resistance level on the charts.
According to the technical analyst from Anand Rathi, BPCL and Wipro can pullback to Rs 270 and Rs 430, respectively.
If the moving average continues to bolster the index, the reversal could see most of the consumer index stocks performing better
In case Rs 285 holds, Natural Gas futures can potentially rally to Rs 344.
According to the technical analyst, Bank Nifty's break out from within the range of 41,725 to 42,725, would indicate a trend change in the charts