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Torrent Pharma has broken out from the bullish “Flag” pattern on the daily chart. After four sessions of running correction, it has resumed its uptrend. Stock price has surpassed the previous swing high resistance of Rs 2,918.
R Systems International was locked in 20 percent upper circuit at Rs 266.80, forming a robust bullish candle on the daily charts with far higher than average volumes, after hammer kind of pattern formation in the previous session. Even the relative strength indicator (RSI) as well as Stochastic have showed uptrend, indicating sentiments are strong.
As long as the Nifty trades above 15,500, one should continue to trade with a positive bias and look for stock-specific buying opportunities during the week, says Ruchit Jain, of 5paisa.com
ITC climbed 4 percent to close at Rs 284.35, which is higher than immediate previous top of Rs 282.35 on May 20 this year. The stock formed a big bullish candle on the daily scale with strong volumes. On the weekly basis as well, there was a robust bullish candlestick pattern formation, continuing Higher High Higher Low for third consecutive week.
Federal Bank has been off-radar for a quite some time now. But the way it grabbed everyone's attention on last Friday is incredible. Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One
After short term correction, Talbros Automotive Components took support near 200 day SMA (Rs 413) and reversed sharply. Post reversal, in this week so far, it rallied over 15 percent and also formed a long bullish candle on weekly and daily charts.
Talking about overall mood in market, Vidnyan Sawant of GEPL Capital said the current trend in Nifty is rangebound between 15,930 and 15,367 but is negative-biased
Maruti Suzuki and Ambuja Cements are both showing strength. Read on to know what Rohan Patil of Bonanza Portfolio suggests investors should do:
At the current juncture, Adani Transmission has given a clean triangle breakout with positive volume picking up which hints at a further upside.
Force Motors has witnessed a sharp upmove from its trendline support. In the recent past, the pullback moves have resisted around its '200 EMA' (exponential moving average). Thus, we could see a continuation of this resistance towards this average which is now seen around Rs 1,157.
Jamna Auto Industries is in a classical uptrend where it is breaking out symmetrical triangle formation after building a strong base at its 200-DMA. On an immediate basis, Rs 125 is the horizontal resistance line; above this, we can expect a rally towards Rs 133-136 levels.
All automobile segments barring tractors and two-wheelers are expected to post strong year-on-year growth in June, largely on a low base in 2021 when India was battling a devastating second Covid wave
On the weekly timeframe, Persistent Systems gave a breakdown of double top pattern with high volumes. Post breakdown the down move was followed by strong volumes, indicating further down move.
Trend of KEC International turned positive as stock price has formed higher top higher bottom candlestick pattern on the daily chart. Primary trend of the stock turned positive as stock price has closed above 200 days EMA.
Traders should take one step at a time and avoid aggressive trades, as there are clusters of resistances lined up for the NIfty on the way up
Most sectors, barring IT, participated in the rally on June 24. Bank, auto, financial services, FMCG, and metal indices gained 1.2-2 percent
It will be interesting to see how the market behaves in the first half of the week. If global relief extends, we may see the Nifty surpass the 16,000-mark, which will trigger a sharp short-covering rally
After a medium term correction, Nykaa is hovering within the range of Rs 1,300 to Rs 1,540. Technically, the short term texture of the stock is non directional and we are of the view that the rangebound activity is likely to continue in the near future.
Asahi India and Indian Hotels show clear uptrend. Read on to know what Vidnyan Sawant of GEPL Capital suggests you should do with the stocks:
Data show that the Nifty Auto index has rallied nearly 14 percent between March 8 and June 22, 2022, whereas, in the same period, the Nifty50 index declined nearly 4 percent.
At current juncture, Trident is in crucial support zone of Rs 35-36. Moreover, exactly at those levels, we have seen Bullish Engulfing on June 21 along with volume picking up and it is a sign of positive momentum.
Birlasoft and Ipca Labs show bullish patterns on technical charts. Read on to know what Rohan Patil of Bonanza Portfolio suggests you should do.
JSW Energy has been correcting along with the broader market since the month of October. The stock has been forming a 'Lower Top lower Bottom’ formation on the daily chart and hence seems to be retracing its previous uptrend.
J Kumar Infraprojects has a strong bullish setup where it witnessed a breakout of Descending triangle breakout on the longer timeframe. It has retested its previous breakout Rs 240 level after hitting a fresh 52-week high.
On weekly chart of HDFC, we saw some sideways action post breakdown happened at Rs 2,400 levels with volume confirmation. Prices have been maintaining lower low, lower high formation. The downtrend was also preceded by Negative direction.