In a choppy market, knowing entry and exit points may turn fortunes in your favour. They are crucial for a successful trade. Here are a few trading strategies to identify entry and exit points
The technical analyst from HDFC Securities recommends buying Transport Corporation of India basis charts
The derivative analyst from HDFC Securities recommends buying Kotak Bank 1,780 Put and simultaneously selling 1,760 Put for the May expiry.
Watch out for these key levels on SBI and Bank of Baroda, while Tech Mahindra and DMart can be avoided for now.
The MCX Gold futures may slide towards the 200-DMA at Rs 48,840 in the near term; while the broader trend indicates a downside target of Rs 53,000 for MCX Silver futures.
The technical analyst from HDFC Securities reommends buying Federal Bank 85 Put with a stop loss at Re 1.
The MCX Crude Oil futures may test Rs 7,540-odd level this week; while on the upside MCX Natural Gas May futures are likely to face resistance around Rs 590.
The stock has declined more than 50 per cent from its 52-week high touched in December 2021; Charts indicate the best way to approach the stock is to stay on the sidelines for now.
The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.
The metal index on the NSE has tumbled 14 per cent so far from its historic peak and continues to drift lower
Given the macro headwinds - the need to tighten monetary policy combined with the risk of a much higher oil price, are the key reasons Wood has been in no hurry to add to the 'overweight' position
The derivative analyst from HDFC Securities recommends buying Infy 1,600 Call and simultaneously selling 1,640 Call for the May expiry.
Real estate and automobiles, which were showing signs of a nascent recovery, will bear the brunt of higher interest rates
In 2007, Tata Steel skyrocketed from Rs 100 to Rs 700 in less than four years; Similarly, since 2020 the stock price grew seven-fold to a high of Rs 1,534.50.
The MCX Natural Gas May futures are likely to trade with a bullish bias in May as long as the commodity holds above Rs 576-level.
According to the technical analyst from Anand Rathi, IndusInd Bank has managed to break out from its four-month consolidation range, and can now rally towards Rs 1,070.
The MCX Gold futures seem to be facing considerable resistance around Rs 52,250 as per the monthly charts. Similarly, the upside for Silver seems likely to be capped around Rs 64,200-64,750 odd levels
Blue Star is in a long term bull trend and may continue to remain a favorite for market participants.
According to the technical analyst from Anand Rathi, Hindalco has found support around its 200-DEMA, and seems poised for a potential reversal in the short-term.
The derivative analyst from HDFC Securities recommends buying Nifty 17,300 Call and simultaneously selling 17,500 Call for the May 05 expiry.