Mindtree will see an upside bias once it breaks out above Rs 920 levels
For Nifty, a continuous gap-down sessions have dampened the upward move
On a year-to-date basis, the benchmark Nifty is down around 14 per cent
Whenever a stock witnesses higher volumes, which is normally stronger than earlier candles, it indicates severe pressure.
Barring Wipro, all the other major tech companies have outperformed the benchmark Nifty50 index which has slipped 7.6 per cent till date in 2020
The study of the same recurring patterns in the financial markets assists in developing trading strategies
Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition
While news-driven movement in markets can be a bit difficult to gauge, but how the markets play out over a few sessions can be plotted on the charts to ascertain the overall trend
The Nifty 50 is trading around 200-DMA; if the selling pressure mounts then the index may see big selling pressure on stocks
The overall trend in the paint stocks remains bullish and any corrective move may see buying opportunities.
The Nifty Midcap index may rally towards 21,000 levels
Simply put, a stop-loss is designed to limit an investor's loss on a stock. Setting a stop-loss order for 15 per cent below the price at which you bought the stock will limit your loss to 15 per cent.
The benchmark indices are holding the positive sentiment
Except Sun Pharma and Lupin, others have grown significantly and are showing less reversal signals.
Major hits were seen in front runners such as ACC Ltd, Ashok Leyland, and HDFC.
A candlestick defines the price movement and depending on the formation, one can determine the current sentiment and predict a trend.
Most stocks are witnessing selling pressure at higher levels. If that gets conquered, a fresh upside of 3-5 per cent is expected to happen.
Except Voltas and Britannia, others may see selling pressure on every upside.
Except BPCL, the others show a weaker trend. However, the correction seems to have slowed down.
In a bearish market, or where the trend starts to turn negative, traders and investors need to be extra careful while executing a trade