HDFCAMC has corrected from its recent high of 3360 odd levels and has consolidated near the 61.80% of the Fibonacci retracement
It is better to take stock-specific approach as the Nifty index is likely to remain choppy. Midcap and Smallcap Indices are expected to outperform
Nifty index can witness profit booking only if it breaks level of 14,800
The recent price chart displays a 'Bullish Flag' breakout in Happiest Minds' stock
A dead cat bounce suggests that more weakness is likely to emerge in the near term
The favorable indication from the pharma index is added positive for Biocon's stock
Godrej Consumer's chart looks attractive with the RSI also improving the bias and indicating strength for further upside move in the coming days
Asian Paints seems to have completed its corrective move and are poised for a resumption of the uptrend
Support for the Nifty is seen at 14,500 and with that as a stop loss, traders should remain bullish
Motherson Sumi has witnessed a breakdown from a distribution pattern on the daily chart
Major banking stocks have broken crucial supports
The stock of Adani Ports has seen some correction from its lifetime highs and, in the last two days, it witnessed a reversal
Price-wise, BPCL's stock seems to have a sturdy structure on the weekly time frame and, looking at the lower degree chart, the recent price correction appears to have completed
RSI Indicator has given 'buy' signals on Biocon and VIP Industries' stocks
On the indicator front, the MACD is comfortably placed above its signal-line and the 14 period RSI is soaring northwards, affirming that Ambuja Cements' stock may surge in the coming future
Shares of Nocil and Butterfly Gandhimathi Appliances are seeing buying momentum even in the overbought territory, indicating underlying strength
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
HCL Tech has surpassed the hurdle of the previous swing high of late and is gradually inching towards its record high
The primary trend of the markets is bullish as short term moving averages are trading above medium to long term moving averages and Nifty has been holding higher tops and higher bottoms
If IDFC First Bank stock stays above the Rs 70-mark, it may rally in the direction of Rs 120 and Rs 135 from a medium-term perspective