HDFC twins, HDFC in particular, may see some more downward pressure; whereas PSU banks like SBI, Canara Bank and BoB can rally up to 9 per cent.
Shares of Paytm are expected to jump up to 20 per cent after overcoming the resistance at the 50-DMA.
ICICI Prudential Life Insurance seems to be headed towards the 200-DMA, while Infosys and HDFC Bank need to be monitored closely over the next few trading sessions.
The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside.
According to the technical analyst from Anand Rathi, Welcorp can rally towards Rs 240, whereas UltraTech can slide to Rs 6,400 in the coming weeks.
MCX Crude Oil futures can test the 20-DMA in the near term placed at Rs 7,900-odd level.
The stock needs to create a strong base and momentum in the range of Rs 4,000 to Rs 3,800 levels, which the stock has been unable to conquer with ease.
The index heavyweight lost significant ground after breaking its earlier support at Rs 2,600, and now trades 18 per cent lower from its 52-weeks high.
Major FMCG stocks are not showing exciting structure on charts, better play is to avoid them.
Stocks breaching 200-DMA may see aggravated selling pressure in coming sessions.
As long as the underneath trend is bullish, volatility and minor dips shall be seen as opportunities to go long
A Double Bottom breakout on metal index indicates an upside towards 6,300-level, which is 7% higher from current levels.
The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 per cent upside in one month
The key benchmark indices may record new all-time high levels in Samvat 2078, provided they conquer the near-term significant resistance levels.
Among stocks, the technical analyst from HDFC Securities recommends buying M&M Finance and Indian Bank
The BSE index declined 5.3 per cent from its recent peak of 62,245 to a low of 59,105 in intra-day trades on Friday
Escorts and Vodafone Idea can rally up to 25-30 per cent; while AU Small Finance Bank, Bank of Baroda and REC too can deliver double-digit returns.
Ashok Leyland stock has witnessed a decent correction from Rs 143 level and bottomed out near the significant 200-DMA level of Rs 116
Here are trading strategies for key private and public sector bank stocks
A "Golden Cross" breakout indicates a firm bullish sentiment in the medium-term