The momentum indicator RSI has reversed from its oversold territory and is showing signs of reversal in Wipro
For Nifty, 12,430.50 is the first level to watch, and post that, the theoretical target of the 'Flag' pattern is around 12,700
The RSI indicator of DCB Bank has shown a trend reversal and has indicated strength to maintain a positive bias
We can witness short-covering move along with addition of fresh position only if Nifty breaches 12,300
Short-term trend of Hindustan Petroleum Corporation Ltd's (HPCL's) stock has turned positive where it is trading above its 5 and 20-day EMA
Jubilant Food's stock has reclaimed its short-term 21-DMA which was placed at 2230 levels. The momentum indicators and oscillators have turned positive on the daily chart which hints at a strong pull
Avenue Supermarts (DMart) is witnessing a breakout from its bullish flag pattern. Further buying momentum would be witnessed if it moves above 2,300
Trading longs should have stoploss at 11,700 in Nifty
The stock of Voltas has provided a fresh breakout from a pennant pattern on the daily chart and has also been trading in a rising channel
As per weekly option data, huge call writing on higher strikes ranging from 11,700 to 12,000 is witnessed which shows Nifty would face resistance in the zone of 11,800
The stock of Reliance Industries (RIL) has recently corrected well and now has shown signs of bottoming out near 2,000 levels
For this week, 11,500 - 11,600 has now become an important support zone
Mahindra & Mahindra, Page Industries, TVS Motor Company, and Wockhardt are among the noticeable names that are exhibiting trend reversal.
The momentum indicator RSI has reversed from its oversold territory and breached its falling trend line on the daily scale in Adani Enterprises
Short term trend of HPCL stock has turned positive where it is trading above its 5 and 20-day EMA
For Sensex, Nifty50, and Nifty Bank, the underneath trend is bullish till the crucial support levels are held on a closing basis.
When it comes to choosing a risky investment, market participants opt for stocks with higher standard deviation that provides volatility, which can be used for quick profits.
As per weekly option data, huge call writing is witnessed on higher strikes ranging from 11,700 to 12,000 which shows Nifty is going to face resistance at 11800
Rising coronavirus cases, especially in Europe, are keeping gold supported, more so because of the possible economic fallout
Ipca Labs has tripled in the last one year from the lows of Rs 817 and continues to hold the same strength and momentum. Charts indicate more headroom from the current levels