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The continuation of the northward journey is possible only if the market posts a strong close above the 20-day EMA. Below are some short-term trading ideas to consider.
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The market is expected to remain directionless in the upcoming sessions. Below are some short-term trading ideas to consider.
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The market is expected to consolidate further, although the overall trend remains positive. Below are some short-term trading ideas to consider.
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The momentum is expected to continue in the upcoming session. Below are some trading ideas for the near term.
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Varun Beverages traded well above all key moving averages (20, 50, 100 and 200-day EMA - exponential moving average) and saw a breakout of falling resistance trendline adjoining highs of September 29, and November 6, which is a positive sign.
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Crucial support for the Nifty50 is expected to remain at 18,800, the low of the last week, as beyond this point, it may slide down to 18,600-18,500. On the higher side, the immediate hurdle will be at 19,200-19,300, followed by 19,500
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Varun Beverages has seen a nice decisive falling resistance trendline breakout in the initial period of trade on September 26 and has formed long bullish candlestick pattern on the daily timeframe with robust volumes.
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If the index breaks 19,300, then it may get the next support around 19,000, whereas on the higher side, 19,600-19,650 is expected to be a crucial hurdle in the near term, experts said
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The technical indicators are very much in line with the ongoing sentiments, adding bullish biases in the stock prices of Varun Beverages.
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Varun Beverages shares rose over 3 percent to end at record closing high of Rs 1,505.5 and formed bullish candlestick pattern on the daily timeframe, though trading volume remained below average. The stock has seen a break out of Mother candle of May 2.
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Varun Beverages is currently trading near its life-high which tells that the stock already is in strong momentum. The recent breakout of the Rounding Bottom pattern confirms continuation of the prior uptrend.
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Varun Beverages has retested the falling trend line on the daily chart before going higher. On the higher end, the index has found resistance at the 14DMA (Rs 1,334.65) during the day's trade on March 22.
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In coming sessions, 17,700-17,800 levels (5 and 21 EMA) are expected to be next resistance area for the index and if the said levels get passed then psychological 18,000 mark which coincides with 20-day SMA is likely to be a crucial hurdle, with the support at 17,400-17,255 area
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PB Fintech was also in focus, rising 6.5 percent to Rs 598, the highest closing level since June 27 last year, after consolidation in previous four trading sessions with sustaining above 200-day EMA (Rs 546). The stock has formed long bullish candle on the daily scale with above average volumes.
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Oil India shares climbed 4.5 percent to Rs 225 and formed strong bullish candle on the daily charts with above average volumes. Also there was Morning Star kind of pattern formation after recent correction, which is bullish reversal pattern.
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Varun Beverages was also in focus, climbing 3 percent to end at record closing high of Rs 1,410 and formed bullish candle on the daily charts. Also it has seen a break out of small horizontal resistance trend line adjoining December 5 and December 8.
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Varun Beverages shares rallied 4 percent to end at record closing high of Rs 1,319 on last Friday and formed long bullish candle on the daily charts with above average volumes.
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LG Balakrishnan and Brothers has witnessed a breakout of an ascending triangle formation and a multi-month breakout with the heavy volume on the daily chart. The structure of the counter looks lucrative as it trades above its important moving averages.
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Once the dust settles, markets are expected to hit new highs, as many of the signals are positive
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Varun Beverages is witnessing a breakout of Bullish Flag formation to resume its classical uptrend. It is respecting its 20-DMA placed at Rs 735
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Varun Beverages is in strong bullish momentum where it is consolidating above its 20-DMA amid weakness in the overall market. It is likely to break out on the upside to resume its uptrend.
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Oberoi Realty has witnessed a breakout of symmetrical formation to resume its uptrend and took support at 20-DMA, where a decisive move above Rs 1,000 may lead to a rally towards Rs 1,100
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Commodities will be the biggest gainers and as long as the geopolitical heat continues, it will be the dominating market theme, Axis Securities said.
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"Till the time this Ukraine-Russia war kind of scenario does not subside completely, uncertainty is likely to loom over markets across the globe. So in such times, it's advisable not to trade aggressively and avoid carrying positions overnight," says Sameet Chavan, chief analyst, technical and derivatives, Angel One.
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For the week, 18,350 remains the level to watch. Once it is surpassed, there is no major hurdle visible before 18,600
