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In the near term, the index is expected to take support at 17,600, which has been holding quite well on every closing in the past six consecutive sessions, with resistance at the 18,000-18,250 zone
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The momentum seems to be in favour of bulls but having consistent run-up for the last few days, some bouts of volatility and consolidation can be seen in coming sessions, before taking gradual march towards first 18,700-19,000 area
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The Nifty50 is expected to trade within the range of 17,300-17,800 in the short term, and if it decisively gives a close above the upper band of the said range, then there could be a move towards the psychological 18,000 mark, experts said
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Since last one month, Tinplate Company of India has made nice base near Rs 300 levels. Recently on daily scale, the stock confirmed a Bullish Inverted Hammer candlestick pattern exactly at the mentioned historical support and that is adding more confirmation of further upside in the counter.
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Stocks from sectors like PSU banks, metal and pharma should be kept on radar for generating trading gains, said Vinay Rajani of HDFC Securities
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The daily strength indicator RSI and the momentum indicator Stochastic both have turned bearish along with negative crossover which supports bearish sentiments ahead.
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Traders are advised to keep focussing on thematic bets and should ideally avoid aggressive bets in indices.
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As long as banking index sustains above 31,300 marks, it can extend higher towards its life high placed around 32,157 level and higher towards 33,000
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There are multiple confirmations that the Nifty might have formed a very short-term top just above 12000, and support are seen near 11,740.
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The supports for Nifty is seen at 11450 and 11310, and the immediate resistance for Nifty is seen at 11760, followed by 12000 and 12430.
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Stocks which rose in the first six months of the financial year 2018 include socks like Indiabulls Ventures in the smallcap space led the rally, up 383 percent, followed by Toyam Industries which gained 368 percent, and HEG rose 333 percent.
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Ashwani Gujral of ashwanigujral.com recommends buying Tinplate Company, NALCO and Bharat Financial Inclusion.
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Ashwani Gujral of ashwanigujral.com recommends buying GATI, Tinplate Company and Larsen & Toubro.
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Prakash Diwan of prakashdiwan.in is of the view that Tinplate Company of India may test Rs 120 in next 12 months.
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Manas Jaiswal of manasjaiswal.com recommends buying Firstsource Solutions with a target of Rs 47.50 and Indian Hotels with a target of Rs 120.
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Bandyopadhyay helps investors out with their investment queries as part of moneycontrol.com‘s initiative Know Your Investment.
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Weak corporate earnings pushed stock market into the red for the seventh session in a row. Indices ended at their lowest level so far this year the Nifty slipped 35 points, Sensex dropped 95 points on Friday.
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SP Tulsian of sptulsian.com view on Tata Steel, Tinplate.
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Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.
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Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.
