Fertilizer shares have been the outperformers so far in 2022, gaining up to 100%; While the bullish sentiment seems overrated, charts indicate continuation of the uptrend.
Except for Max Financial Services other insurance related shares seem to be on a weak ground, indicate technical charts.
The bias is likely to remain bullish as long as Crude Oil futures sustain above Rs 7,830, below which the next crucial support is at Rs 7,730.
The technical analyst from HDFC Securities recommends buying Action Construction Equipment and Bandhan Bank.
Overall, the Nifty IT index has declined 19 per cent from its historic peak of 39,446 recorded in early January, 2022. Charts indicate 31,000 to 30,000 as the accumulation range for the index.
Among FMCG stocks, Adani Wilmar seems to be better placed at current levels as per the technical charts.
The MCX Gold futures may seek near support around Rs 52,040; whereas Silver futures have multiple key support around Rs 65,235 and Rs 64,600.
NTPC, Adani Ports, Coal India, M&M and BPCL can rise higher, indicates technical charts
The BSE Telecom index is likely to gain up to 3.50 per cent, as the index firmly holds the support around the 100-DMA, shows chart.
The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.
HDFC twins, HDFC in particular, may see some more downward pressure; whereas PSU banks like SBI, Canara Bank and BoB can rally up to 9 per cent.
The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside.
According to the technical analyst from Anand Rathi, Welcorp can rally towards Rs 240, whereas UltraTech can slide to Rs 6,400 in the coming weeks.
Bharti Airtel needs to overcome its resistance at Rs 780 for further upside; MTNL, Voda Idea can zoom up to 30%
MCX Crude Oil futures can test the 20-DMA in the near term placed at Rs 7,900-odd level.
The technical analyst from HDFC Securities expects the Nifty to find support around 17,450-odd levels.
The stocks are exhibiting positive trend amid reports that Indian Railways is expected to add 100,000 wagons over the next three years
According to the technical analyst from Anand Rathi, KRBL has been trading in a range of Rs 180 to Rs 340 since the last two years.
The overall chart outlook hints at a rally towards the Rs 2,000 mark for the stock.
Larsen & Toubro and Engineers India need to hold above the key levels for further upside.