Here's a look at what technical charts indicate for Nifty Bank and key private banks.
According to the experts, the verdict will have a devastating impact on the telcos and Vodafone-Idea will be the worst-hit.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Here's how these three heavyweights look on the technical charts post their respective Q2FY20 results.
Till Indiabulls Housing Finance does not consolidate at the current levels at least for two months with above average volumes, one should not be optimistic
With festival season round-the-corner, companies are hoping for a pick-up in the overall consumption, which along with the cut in corporation tax, would aid earnings growth over the next few quarters
The 200-day moving average (DMA) is one of the important indicators to ascertain buy or sell trends.
The index had witnessed 10 per cent correction from June, 2019 and an upside of over 5 per cent in the past two sessions has strengthened the positive view on the technical charts
The S&P BSE Sensex on Tuesday tanked 642 points or 1.73 per cent to end at 36,481.09 while the NSE's Nifty50 settled at 10,818, down 186 points or 1.69 per cent.
Nifty Energy Index has been consolidating in the range of 14,730 - 13,750 since August. The formation seems like triple-bottom and a breakout would mean can take the index to 15,000 mark
Indigo is set to move towards its new all time high, while SpiceJet has absorbed selling pressure around higher levels
The Union Cabinet recently approved a subsidy of Rs 6,268 crore for the export of 6 million tonnes of sugar. The development triggered a rally in select counters
The stock has absorbed all the selling pressure in the range of Rs 760 - Rs 770 and is ready for a fresh upside. Although it witnessed mild selling above Rs 800, the overall trends still looks bullish
A bigger upside rally is expected only if it has added volumes and the Sensex is able to hold above the resistance zone
Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.
If the Nifty Bank index stays below 2,600 level for another week, then a major breakdown may lead to a long term bearishness, tech charts suggest.
As the market breadth turns negative, only sideways consolidation or V-shape recovery can revive the positive sentiment.
As It began successfully trading above 200 DMA, the counter has more than doubled rising 175 per cent to Rs 1,417
Front runners insurance stocks have seen higher Investor Interest
The RSI (Relative Strength Index) and Stochastic are momentum oscillators that identify strength and weakness of traded securities