The overall bias for Crude Oil remains negative, however, select momentum oscillators have turned positive on the daily chart. Natural Gas futures could see sharp directinal moves, hints ADX indicator
Ambuja Cements, Ceat, Eicher Motors, Pidilite Industries, Tata Chemicals, Torrent Power and Wockhardt are few of the prominent stocks holding on to the bullish outlook.
According to the technical analyst from Anand Rathi, Larsen & Toubro can slip to Rs 1,800-level, while CRISIL can rally to Rs 3,700.
Sensex has shrunk 1,372 points or 2.29 per cent to 59,015 and Nifty50 shed 425 points or 2.3 per cent to 17,561 so far from their recent highs
The MCX Gold October futures is trading near multiple supports in the form of 20-WMA, 20-DMA and 50-DMA; Whereas Silver futures may seek support near its recent low of Rs 54,160-odd level, while the u
The government on Thursday raised the windfall tax on exports of diesel to Rs 7 per litre and reintroduced the tax on jet fuel exports of Rs 2 per litre.
According to the technical analyst from Anand Rathi, KPR Mill can rally to Rs 640, while Thermax can surge to Rs 2,400.
Zomato and Metro Brands may see an upside of up to 32 per cent, while JSW Energy, Kensai Nerolac, and Hikal could surge up to 11 per cent.
SBI Cards has conquered the 200-DMA, a prime indicator of the trend for market participants, and hints of a likely 'Golden Cross' breakout with 50-DMA and 100-DMA likely to cross the 200-DMA.
Technically, probability of metal stocks entering a negative trend remains negligible. A resilient bullish trend seems clearly visible in Tata Steel and Vedanta.
Sustained trade below Rs 6,800-level, can trigger a sharp slide in MCX Crude Oil August futures towards the 50-WMA; Meanwhile, bias for Natural Gas is positive.
The technical analyst from HDFC Securities foresees the next resistance for the Nifty50 index at 18,114.
According to the technical analyst from Anand Rathi, NMDC can rally to Rs 124, while Wipro can surge to Rs 477-odd level.
According to the analyst from Anand Rathi, KPR Mill can rally to Rs 595, while Shriram Transport Finance can surge to Rs 1,500 in the near term.
Paytm and Nykaa have logged smart gains gains in trade so far on Monday post Q1 results, while SBI and BPCL declined notably. Going ahead these are the key levels to be watched on these stocks.
This week, the MCX Gold October futures could consolidate in the range of Rs 51,150 to Rs 52,870; Silver futures need to break above Rs 58,835 for gaining strength.
Manappuram Finance has so far on Friday post RBI rate hike has logged its biggest intra-day gain this year, the stock along with DLF, SBI and Bajaj Auto can rally up to 14 per cent in the near term.
According to the analyst from Anand Rathi, IndusInd Bank has rallied sharply in the recent days without any corrective move, and is currently facing some headwinds at 200-WMA.
MindTree, Mphasis and Larsen & Toubro Infotech may rally up to 24 per cent, while Infosys needs to overcome its near-term hurdle for fresh gains.
The current chart formation is akin to 2011, provided ITC ends August on a positive note. Post which, the stock can potentially double from current levels.