The dip in Nifty should be utilized as a buying opportunity for the target of 12,150
Except Voltas and Britannia, others may see selling pressure on every upside.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Except BPCL, the others show a weaker trend. However, the correction seems to have slowed down.
A successful close above Rs 1,500 can take the counter towards Rs 1,617 levels, which is its lifetime high level
The Nifty seems to have completed wave B of the bounce and wave C up on the hourly charts is expected
Hindustan Unilever may rally towards Rs 2,300 if it trades above Rs 2,150 levels.
For Bajaj Auto, the RSI has shown a steep rise with a trend reversal and signaled a buy
The prime application of Moving Average is to find the direction of the trend, but it also identifies support and resistance levels
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities
Godfrey Phillips is approximately Rs 100 away from the lifetime high of Rs 1,572 level.
Hero MotoCorp has made another higher bottom formation pattern in the daily chart to imply strength and potential to rise further to give a breakout above the previous peak of 2,480
The Nifty is likely to bounce till 12,300 levels in the short-term after which it is again likely to correct
The pattern consists of a shape that have three peaks which are categorised into the left shoulder, head and the right shoulder.
The RSI on ICICI Pru Life has indicated a strong trend reversal with positive bias, signalling a buy
Currently, Ramo Cements' stock is hovering in a range, after a sharp up move, offering fresh buying opportunity to those who missed the chance earlier
The Nifty has provided a sell crossover on its hourly charts and with that, the index seems to have reversed the overall trend in the short term.
The overall outlook for the rail-related stocks looks promising.
Mid-caps continue with their strong up-trend and is anticipated to do so till the budget time