Analysts remain skeptical of the timeline to implement the restructuring guidelines and the number of companies that may meet the eligibility criteria
The stock of Bajaj Auto has breached its short term 21-DMA which was placed at 3020, which will now act as a major resistance
Banknifty has also started joining the market rally
BHEL's stock has provided a breakout from a falling wedge pattern on the daily chart
The stock of Wipro has provided breakout from a flag and poll pattern on the daily chart which is considered as a bullish continuation pattern
The momentum indicators and oscillators on the weekly scales are still in 'buy' mode
The stock of Tata Consumer Products made a fresh all-time high and has provided breakout from a cup pattern on the daily chart
Tata Motors' stock has provided breakdown from a head and shoulder pattern on the daily chart
Bata India's stock is on the verge of a breakout from a downward sloping trend line
The momentum indicators and oscillators are very well in the buy mode on the weekly scale which hints that bulls are making a comeback and the current pullback is likely to extend further
The overall fall in volatility is hinting at no major move in the short-term
Mphasis' stock has provided breakout from a consolidation zone
Lupin's stock is making a higher top and higher bottom pattern on the daily chart
The momentum oscillator MACD has provided buy crossover on the Nifty's hourly chart
One should refrain from creating any aggressive long position in Nifty at higher levels
Nifty is currently near its previous swing low which is placed at 9,150
Macquarie has suggested that taxpayers will the biggest casualty in the government-approved bailout plan for YES Bank
The dip in Nifty should be utilized as a buying opportunity for the target of 12,150
The Nifty has provided a sell crossover on its hourly charts and with that, the index seems to have reversed the overall trend in the short term.
The daily, as well as weekly momentum indicator MACD for Nifty, is well in the buy mode