Breakout from 240 would lead Bandhan Bank's stock to witness more upward movement
Mindtree will see an upside bias once it breaks out above Rs 920 levels
The candlestick formations on the benchmark indices show a 'Bullish Engulfing' pattern, which suggests a change in sentiment to positive
Nifty outlook and stock recommendations from Nilesh Jain, Technical and Derivatives Research - Equity Research, Anand Rathi Shares and Stock Brokers
For Nifty, a continuous gap-down sessions have dampened the upward move
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Whenever a stock witnesses higher volumes, which is normally stronger than earlier candles, it indicates severe pressure.
Barring Wipro, all the other major tech companies have outperformed the benchmark Nifty50 index which has slipped 7.6 per cent till date in 2020
The level of 11,050 should be followed as a stop-loss on a closing basis in Nifty longs
Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
While news-driven movement in markets can be a bit difficult to gauge, but how the markets play out over a few sessions can be plotted on the charts to ascertain the overall trend
The Nifty 50 is trading around 200-DMA; if the selling pressure mounts then the index may see big selling pressure on stocks
The overall trend in the paint stocks remains bullish and any corrective move may see buying opportunities.
Marico should be the stock to focus on
The Nifty Midcap index may rally towards 21,000 levels
Simply put, a stop-loss is designed to limit an investor's loss on a stock. Setting a stop-loss order for 15 per cent below the price at which you bought the stock will limit your loss to 15 per cent.
Except Sun Pharma and Lupin, others have grown significantly and are showing less reversal signals.
Lupin has witnessed some erosion in recent times and has currently showed signs of bottoming out near Rs 695 levels
A candlestick defines the price movement and depending on the formation, one can determine the current sentiment and predict a trend.