The government may infuse Rs 20,000 crore through the recapitalisation of bonds into state-owned banks.
Chart patterns help one identify potential moves with the help of key support levels and certain predefined patterns.
On a year-to-date (YTD) basis, the Nifty IT index has outperformed the market by surging nearly 18 per cent (as of Tuesday's close) as compared to a 7 per cent fall in the benchmark Nifty50
SBI Life's stock is holding strongly above the support zone of 200 EMA on the daily chart
The stock price of CDSL has doubled In less than three months.
With the "higher high, higher low" formation on the daily chart, Amara Raja Batteries is gradually rising with the support of 50-day moving average (DMA).
As of now, the downside is limited in mid-cap banks with volumes staying subdued.
The technical analysis revolves around three major indicators: the price indicator, volume, and basic technical indicators that determine strength, oscillation, and momentum.
The golden ratio is typically translated into three percentages: 38.2 per cent, 50 per cent, and 61.8 per cent, which are considered key retracement levels for a stock or an index.
Sun Pharma's counter has provided a fresh breakout after retesting its rising channel on the daily chart
We can witness short-covering move along with the addition of fresh position only if the Nifty breaches 11,200 level.
Tata Motors' stock has provided breakdown from a head and shoulder pattern on the daily chart
The entire pharma space has been in limelight since the coronavirus pandemic outbreak
The most widely used, the 200 DMA, is a technical indicator used to analyse and identify long term trends
Bata India's stock is on the verge of a breakout from a downward sloping trend line
This is viewed as an extremely bullish pattern as continuous three positive closes indicate the beginning of a strong buying
L&T is on the verge of breaking out from the symmetrical triangle pattern on the daily charts.
Momentum oscillator MACD has provided a fresh buy crossover on Nestle's daily chart
For Nifty IT, the immediate support comes in at 16,400 levels on a closing basis and the rally should move towards 17,500 and 17,700 levels.
The idea behind this strategy is to book profit and take a fresh view.