The index heavyweight lost significant ground after breaking its earlier support at Rs 2,600, and now trades 18 per cent lower from its 52-weeks high.
Major FMCG stocks are not showing exciting structure on charts, better play is to avoid them.
Stocks breaching 200-DMA may see aggravated selling pressure in coming sessions.
As long as the underneath trend is bullish, volatility and minor dips shall be seen as opportunities to go long
A Double Bottom breakout on metal index indicates an upside towards 6,300-level, which is 7% higher from current levels.
The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 per cent upside in one month
The key benchmark indices may record new all-time high levels in Samvat 2078, provided they conquer the near-term significant resistance levels.
Among stocks, the technical analyst from HDFC Securities recommends buying M&M Finance and Indian Bank
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
Escorts and Vodafone Idea can rally up to 25-30 per cent; while AU Small Finance Bank, Bank of Baroda and REC too can deliver double-digit returns.
Ashok Leyland stock has witnessed a decent correction from Rs 143 level and bottomed out near the significant 200-DMA level of Rs 116
Here are trading strategies for key private and public sector bank stocks
A "Golden Cross" breakout indicates a firm bullish sentiment in the medium-term
Bharti Airtel has been trading in the consolidation range for the last two months after retesting the major support zone around Rs 520 levels
The traders and investors are cautious of heavy profit booking in the indices. However, there aren't any major technical signals to support this view
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
Laurus Labs is likely to maintain its upward journey as long as it doesn't break the support level of Rs 600 levels
The MFI study on the daily and weekly chart assists in identifying short-term trade for quick gains
Havells' stock is currently trading around the support zone of medium-term moving average (100 EMA) on the daily chart and indications are in the favor of a strong surge in near future
The RSI has indicated a trend reversal for Hero MotoCorp, showing strength, and has signaled a 'buy' to suggest further upward movement in the coming days