Bharti Airtel has been trading in the consolidation range for the last two months after retesting the major support zone around Rs 520 levels
The traders and investors are cautious of heavy profit booking in the indices. However, there aren't any major technical signals to support this view
Recently, Cummins India's declining trend seems to have been arrested around the 750-mark, which coincided with the '89-EMA' on the daily chart
Laurus Labs is likely to maintain its upward journey as long as it doesn't break the support level of Rs 600 levels
The MFI study on the daily and weekly chart assists in identifying short-term trade for quick gains
Havells' stock is currently trading around the support zone of medium-term moving average (100 EMA) on the daily chart and indications are in the favor of a strong surge in near future
The RSI has indicated a trend reversal for Hero MotoCorp, showing strength, and has signaled a 'buy' to suggest further upward movement in the coming days
We finally witnessed a decisive price and volume breakout from the recent congestion zone in Strides Pharma
In general, 52-week high represents a resistance level and 52-week low the support levels, and their breach is considered a key development
Although there are ups and downs in the market cycle, having an in-depth understanding of these phases facilitates the trading behaviour and improves the trader's morale
Whenever the stock price shows a reversal near the major moving averages, the turnaround is expected to be sharp, and the volumes tend to increase
A breakout above Rs 2,100 in RIL's counter may see a rally towards 2,400
Whenever, the +D and -D make a crossover, the trend is expected to shift in a more concrete manner in the respective trend in all time frames
Every aspect of candlestick chart helps traders easily read a trend even if he/she has a basic understanding about candles.
Adani Enterprises, Berger Paints (I), Bharti Airtel, Eicher Motors, Grasim Industries are among the other notable names
In OBV indicator, a positive close candle volume is added cumulatively and negative close volume is subtracted to determine the trend
Nifty Bank index may hit record levels of 33,000 if it surpasses the resistance of 32,300
The three basic charts are: Line charts, Bar charts, and candlestick charts
The two major cyclical indicators that assists in identifying the shift in cyclical trend are: Commodity Channel Index (CCI) and Detrended Price Oscillator (DPO)
Both indicators have different use in a trading model. It is not easy to follow the price after a leading indicator delivers a trading signal.