The stock of HDFC Bank is showing signs of reversal which hints of further positive momentum in the counter
According to experts, demand from the home textile industry is expected to remain supportive in the near-to-medium term
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.
A strong close above Rs 770 in M&M may trigger a rally Rs 825 levels
Nifty50 has been finding support at its 8-day EMA, which is currently placed at 13,438
In line with other oil marketing stocks, the stock price of Hindustan Petroleum has been witnessing gradual recovery for the last two months
Among the Nifty 500 stocks, nearly 370 stocks are trading on the upper side of the momentum indicators
The stock of Colgate Palmolive has surpassed the upper band of the Bollinger band which hints of a fresh up move in the counter
Traders should try to create a long position keeping a close eye on 13,400
With a broader view, 14,000 and beyond levels are very much possible, but for the time being 13,500 - 13,600 are the extreme levels as per few key Fibonacci ratios
The RSI has recently indicated a trend reversal and is on the rise to show strength in BPCL
Hero Moto stock is witnessing a resistance breakout from its immediate resistance level placed at Rs 3,205.
The stock price of Tata Consumer has broken out on the daily chart with higher volumes where it closed at all time high level.
As far as support is concerned, 13,145 is a crucial level to watch out for
Glenmark Pharmaceuticals has recently witnessed a breakout with a noticeable rise in volume, after spending nearly 4 months in a consolidation range of 460-515 levels
If HDFC Bank stock slips below 1,370, we may see extended profit booking in this stock
The RSI indicator for HUL share (Hindustan Unilever share) has suggested a trend reversal to signal a buy
Primary trend of the Bharat Forge stock is positive where its price is trading above all important moving averages
We can witness short-covering move along with addition of fresh position only if Nifty breaches 13.200
The next positive catalyst may be a sharp refining margin recovery, which is more of a H2CY21 story, says JP Morgan