Both the stocks seem to have bottomed out after a decent correction and now indicate a trend reversal on the charts, says the technical analyst from Prabhudas Lilladher
Century Textile and VIP Industries are the two stock recommendations by HDFC Securities
Rossari Biotech has been in a secular uptrend and is placed well above all the major exponential moving averages on the daily charts
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
VOLTAS has seen strong reversal candlestick pattern formation near its 200 DEMA on the daily chart on the back of robust volumes, indicating an early sign of reversal in the counter
The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000 mark
Aurobindo Pharma has corrected over 35 per cent from its lifetime high and has plunged below all its major exponential moving averages
Info Edge (Naukri) has finally witnessed a breakout from a broader consolidation range of Rs 4,200-5,600 after spending nearly eight months there
Nifty is expected to surpass the intraday all-time high of 16,702
SBI LIFE has been consolidating in a narrow range near its lifetime high zone from the past few trading weeks, indicating the formation of a strong base before another round of rally
The stock of Hindustan Unilever (HUL) is hovering near 21 DEMA
Motherson Sumi's stock has seen some buying interest in the past trading sessions and settled well above all its major moving averages on the daily time frame
For Nifty, the immediate resistance zone can be seen around 14,575-14,650, where a sustainable move beyond 14,650 would negate the possibility of further correction
The Nifty50 has recovered more than 62 per cent of the entire fall which was registered from 14,653 to 14,222
The stock has formed a bearish Harami candlestick pattern on the daily chart which is considered as a bearish reversal pattern.
We can witness a short-covering move along with the addition of a fresh position only if Nifty breaches 13,000.
Bata India has been trading in a range for the last seven months, after a sharp slide from its record high.
According to Axis Securities, the small and midcaps are picking up steam and they should deliver solid returns in 2021 as economic uncertainties will reduce and volatility will decline
If there is no escalation in geopolitical concerns and Covid-19 cases, the Indian markets are likely to continue their northward trajectory
Recently, gas distribution companies have been in limelight