Fertilizer shares have been the outperformers so far in 2022, gaining up to 100%; While the bullish sentiment seems overrated, charts indicate continuation of the uptrend.
Overall, the Nifty IT index has declined 19 per cent from its historic peak of 39,446 recorded in early January, 2022. Charts indicate 31,000 to 30,000 as the accumulation range for the index.
According to the technical analyst from Anand Rathi, Genus Power has confirmed a multi-year breakout above the Rs 95 mark, and seems poised to rally towards Rs 140 in the next few months.
Among FMCG stocks, Adani Wilmar seems to be better placed at current levels as per the technical charts.
NTPC, Adani Ports, Coal India, M&M and BPCL can rise higher, indicates technical charts
According to the technical analyst from Anand Rathi, Suntech Realty is on the verge of breakout; whereas, Tata Power is testing its key support.
Ambuja Cement is exhibits a positive bias, and is likely to further gains on follow-up buying; whereas other cement stocks need to overcome major hurdles.
The technical analyst from HDFC Securities has buy call on ICICI Prudential Gold ETF and sell call on Mothersonsumi.
HDFC twins, HDFC in particular, may see some more downward pressure; whereas PSU banks like SBI, Canara Bank and BoB can rally up to 9 per cent.
Shares of Paytm are expected to jump up to 20 per cent after overcoming the resistance at the 50-DMA.
ICICI Prudential Life Insurance seems to be headed towards the 200-DMA, while Infosys and HDFC Bank need to be monitored closely over the next few trading sessions.
According to the technical analyst from Anand Rathi, Welcorp can rally towards Rs 240, whereas UltraTech can slide to Rs 6,400 in the coming weeks.
Bharti Airtel needs to overcome its resistance at Rs 780 for further upside; MTNL, Voda Idea can zoom up to 30%
The stock needs to create a strong base and momentum in the range of Rs 4,000 to Rs 3,800 levels, which the stock has been unable to conquer with ease.
According to the technical analyst from Anand Rathi, KRBL has been trading in a range of Rs 180 to Rs 340 since the last two years.
The overall chart outlook hints at a rally towards the Rs 2,000 mark for the stock.
Larsen & Toubro and Engineers India need to hold above the key levels for further upside.
The derivative analyst from HDFC Securities recommends buying FSL April 140 Call and simultaneously selling 150 Call.
According to the technical analyst from Anand Rathi, HDFC Bank is trading near multiple support area, hence the probability of the stock resuming its uptrend is high.
According to the technical analyst from Anand Rathi, Symphony may give decent gains in the coming 3 to 4 weeks.