Adani Enterprises can rally up to 14 per cent; whereas ACC, and Ambuja Cements can gain another 10 per cent each, indicate charts
The MCX Gold futures may slide towards the 200-DMA at Rs 48,840 in the near term; while the broader trend indicates a downside target of Rs 53,000 for MCX Silver futures.
Among the losing pack, Solara Active Pharma Sciences has slumped 75 per cent, while Aarti Drugs, MCX India and Tata Communications are other major laggards
The stock has declined more than 50 per cent from its 52-week high touched in December 2021; Charts indicate the best way to approach the stock is to stay on the sidelines for now.
The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.
The technical analyst from HDFC Securities sees the next major support for the Nifty at 15,700-level.
The metal index on the NSE has tumbled 14 per cent so far from its historic peak and continues to drift lower
According to the technical analyst from Anand Rathi, one can accumulate Axis Bank in the range of Rs 663 - 657 with a stop at Rs 630.
Market participants should avoid bottom fishing at the these counters and wait for a fresh trend to emerge.
The MCX Silver July futures are currently trading below all its key moving averages; similarly, MCX Gold futures need to break above Rs 51,870 for further up move to emerge.
In 2007, Tata Steel skyrocketed from Rs 100 to Rs 700 in less than four years; Similarly, since 2020 the stock price grew seven-fold to a high of Rs 1,534.50.
According to the technical analyst from Anand Rathi, Hindalco has found support around its 200-DEMA, and seems poised for a potential reversal in the short-term.
The bias is likely to remain bullish as long as Crude Oil futures sustain above Rs 7,830, below which the next crucial support is at Rs 7,730.
According to the technical analyst from Anand Rathi, Genus Power has confirmed a multi-year breakout above the Rs 95 mark, and seems poised to rally towards Rs 140 in the next few months.
Among FMCG stocks, Adani Wilmar seems to be better placed at current levels as per the technical charts.
NTPC, Adani Ports, Coal India, M&M and BPCL can rise higher, indicates technical charts
According to the technical analyst from Anand Rathi, Suntech Realty is on the verge of breakout; whereas, Tata Power is testing its key support.
Ambuja Cement is exhibits a positive bias, and is likely to further gains on follow-up buying; whereas other cement stocks need to overcome major hurdles.
The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.
The technical analyst from HDFC Securities has buy call on ICICI Prudential Gold ETF and sell call on Mothersonsumi.