The stock of HDFC Bank is showing signs of reversal which hints of further positive momentum in the counter
Death Cross, Gap-down closing and RSI Divergence are significant indicators of trend reversal
Better-than-expected Q2 GDP data numbers might help index to move in the positive territory
Once traders get a hold of technical analysis, their behaviour tends to become exaggerated.
A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development has pushed Nifty50 & Sensex to their peak
Major stocks are showing upside bias with support from moving averages and technical parameters
Nifty Mid and Small caps 100 are showing strong upside.
"We don't expect a runaway rally in gold as ETF outflows will put pressure on the price," the expert says.
HDFC twins are nearing all-time highs while Bajaj group stocks have seen a tremendous surge in the ongoing November series.
Trading longs should be held on with the stop loss of 12,700 levels. We expect midcaps to outperform in the coming days.
Bata India has been trading in a range for the last seven months, after a sharp slide from its record high.
Last week, we had witnessed a 'Bullish Flag' breakout around 12,050 and since then markets never looked back.
The vaccine may induce a serious frontloading of the rally before logistical challenges or slower growth normalisation begins to bother markets, says UBS
HDFC Life has been gradually inching higher, after spending nearly a month in consolidation range, while holding strongly above the support zone of the long term moving (200 EMA) on the daily chart
All indicators point to a gradual rise in Aurobindo Pharma's stock from the 100 EMA support
The momentum indicators and oscillators are very well in the buy mode on daily as well as weekly scales which hints of a further positive momentum in TCS
Sun Pharma's stock is in a rising trend
Looking at the technical set up, with last week's price activity, we can see a formation of 'Bearish Engulfing' pattern on weekly chart
Short term trend of the stock is positive where stock price is trading above its 5- and 20-day Moving Averages
The stock of Bajaj Auto has breached its short term 21-DMA which was placed at 3020, which will now act as a major resistance