The key benchmark indices may record new all-time high levels in Samvat 2078, provided they conquer the near-term significant resistance levels.
The BSE index declined 5.3 per cent from its recent peak of 62,245 to a low of 59,105 in intra-day trades on Friday
The stock of Indian Bank has broken out from ascending triangle on the weekly charts
According to the technical analyst from Anand Rathi all three stocks have been consolidating and now set for a good breakout
Tata Power and Coal India are witnessing strong momentum based buying, while Indian Energy Exchange (IEX) can surge 20% in the medium-term, tech charts show
While Aarti Industries and Sun Pharma have been consolidating in a range and awaiting a breakout, Bajaj Auto seems to have given a breakout, says the technical analyst from Religare Broking
The technical analyst from Anand Rathi is also bullish on SBI Cards and Jubilant Ingrevia
Maruti Suzuki, Tata motors and M&M may see weakness at current levels, but the medium-term trend is highly bullish
Shares of IRB Infrastructure Developers jumped over 5 per cent, GMR Infrastructure added 2 per cent and Larsen & Toubro Ltd (LT) recovered following five days of bear hammering
Traders are advised to remain light for a while and the ideal strategy would be to look at the individual stocks than the benchmark index
Market participants have become cautious amid significant valuations and strong gains Sensex has achieved since the start of the year
Once the hurdle mark is decisively conquered on the higher side, the upside rally may see a new all-time high
The minimum return should be double the risk involved. ATR facilitates in identifying such stocks by studying the entry and exit levels.
Hero MotoCorp's stock has broken down below the last six week's price consolidation
Price-action and candlestick patterns rely more on the volume distribution
The secular uptrend in KIE Industries' stock has proved all minor corrections to be good accumulation points for the bulls
Bajaj Finance's stock price has broken out from symmetrical triangle on the daily charts, and rising volumes have confirmed the breakout
Recently, Cummins India's declining trend seems to have been arrested around the 750-mark, which coincided with the '89-EMA' on the daily chart
The basic idea is to find a structure that reflects a change in sentiment with market testing the higher highs and lower lows.
Here are trading strategies for a few such counters that look bullish on the charts and can appreciate at least 20 per cent from here on in the next two months