The Nifty Metal index can clock a new high, if it manages to cross and sustain above the 6,000-mark.
Infra related stocks can easily see a jump of 10 per cent in quick time
With the exception of SAIL, other PSU stocks could breakout upon any positive news in the sector
The index heavyweight lost significant ground after breaking its earlier support at Rs 2,600, and now trades 18 per cent lower from its 52-weeks high.
Stocks breaching 200-DMA may see aggravated selling pressure in coming sessions.
Major stocks have broken out on upside, any trigger in Budget 2022 could see sharp up move
As long as the underneath trend is bullish, volatility and minor dips shall be seen as opportunities to go long
The Nifty Realty index can rally towards 525-level.
Concor has indicated a double bottomed pattern on the daily chart and seems well placed to rise further, says the technical analyst from Prabhudas Lilladher
Similar to Aptus Value Housing Finance's stock, ABFRL confirmed a major breakout from the falling trend line formed by joining two prominent swing highs
Laurus Labs Ltd, Endurance Technologies Ltd may surge over 30 per cent whereas small cap stocks like Avanti Feeds Ltd, BASF India and Rain Industries could jump up to 40 per cent from current levels
Vodafone Idea can jump up to 40% from current levels, while Bharti Airtel may see a 6 per cent rise.
Nifty should be held long with the stoploss of 16,650.
The underneath strength, preferably read as price action, has been able to hold ground around the major neckline supports for these stocks
The stock price of Infosys has broken out from the downward sloping trendline on daily chart
The stock of Bandhan Bank has been underperforming the banking index and is still struggling below the resistance zone of moving averages
After the correction, the stock of Bata India has taken support near the trendline support zone of 1,850 and has indicated a reversal to bottom out
The risk reward ratio for CEAT looks highly lucrative at current levels to go long for a bounce.
when the overall market translates form a negative sentiment to a positive outlook, the consolidating stocks are expected to robustly breakout on the upside
The technical & derivative analyst from HDFC Securities recommends buying SAIL and and Hindalco