Daily Technicals
RIL, ONCG, OIL: Windfall tax cut may propel bullish rally of up to 15%
When a stock reaches a new definitive peak, the trend is observed to rally in the same direction in the following sessions. This could become the case for Oil & Natural Gas Corporation and Oil India.
 "RIL, ONCG, OIL: Windfall tax cut may propel bullish rally of up to 15%")
Sensex may reclaim 62,000, Nifty 18,000 if these levels are conquered
Positive divergence may push Sensex and NIfty in a bullish trend for coming sessions, show technical charts.
 "Sensex may reclaim 62,000, Nifty 18,000 if these levels are conquered")
Inverse H&S in pharma index could revive a positive bias for short-term
Pharma shares like Aurobindo Pharma, Zydus Lifesciences, Sun Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals may rise up to 14 per cent.
 "Inverse H&S in pharma index could revive a positive bias for short-term")
Bajaj twins hit new lows every month since November 2022; weakness persists
Every reversal in Bajaj twins is expected to face sell-off, until key levels are not conquered, with aggressive volumes.
3 Adani group stocks out of ASM, Should you be bullish?
Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles
 "3 Adani group stocks out of ASM, Should you be bullish?")
BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs
BPCL, HPCL and IOC may rise up to 11 per cent in coming sessions, and if they manage to sustain their upward rally, medium-term bias may strongly shift in bull's favour.
RIL, Mphasis: 45 stocks hit fresh 52-week lows; charts show more pain ahead
The heavy-weight Reliance Industries has broken critical support of Rs 2,300, raising concerns about the future drawdown. In addition, the formation reveals a "Descending Triangle" violation
 "RIL, Mphasis: 45 stocks hit fresh 52-week lows; charts show more pain ahead")
Triveni, Renuka: Sugar stocks rebound, may further see up to 17% rise
Balrampur Chini Mills, Dwarikesh Sugar Industries, Ugar Sugar Works, Rana Sugars, Dhampur Sugar Mills and Shree Renuka Sugar overcome their significant peaks, with volumes exceeding daily 3-month high
 "Triveni, Renuka: Sugar stocks rebound, may further see up to 17% rise")
Bulls ride PSE index to historic peak, half of index stocks on breakouts
Altogether 10 out of 20 stocks in Nifty PSE index are flashing breakout structures that reflect medium-term bullishness.
 "Bulls ride PSE index to historic peak, half of index stocks on breakouts")
5 Nifty 500 stocks to accumulate if market breadth continues to improve
Shares of Power Grid Corporation of India, GAIL (India) , Linde India, Symphony and Tech Mahindra may rise up to 14%, as per their respective technical charts
 "5 Nifty 500 stocks to accumulate if market breadth continues to improve")
How to trade Zee Entertainment as NCLT places it under insolvency process
Death Cross on the Zee Entertainment may push stock in the bear grip
 "How to trade Zee Entertainment as NCLT places it under insolvency process")
Defence stocks: HAL poised for a historic peak; BDL, BEL test key levels
HAL sets to hit new all-time and may rise up to 9 per cent. BDL and BEL need to cross key hurdles to breakout.
 "Defence stocks: HAL poised for a historic peak; BDL, BEL test key levels")
Half of Nifty 50 stocks yet to reclaim Budget peaks, breadth stays fragile
Selective stocks like Bharat Petroleum Corporation, Divi's Laboratories, Hindalco Industries, Hero MotoCorp and State Bank of India, the technical charts are reflecting clear weakness.
 "Half of Nifty 50 stocks yet to reclaim Budget peaks, breadth stays fragile")
Technical chart: Is this the right time to buy Vodafone Idea shares?
Back in 2012, when the stock climbed over the same average, the stock price doubled in three years. The 50-MMA has become a decisive indicator for the shares of Vodafone Idea.
 "Technical chart: Is this the right time to buy Vodafone Idea shares?")
TCS, Persistent: Breakout in IT index may trigger up to 9% rally in stocks
Shares of Tata Consultancy Services, Infosys, HCL Technologies, Coforge and Persistent Systems are indicating chart structures that reflect resumption of their short-to-medium term upmove.
 "TCS, Persistent: Breakout in IT index may trigger up to 9% rally in stocks")
Metals eye up to 15% gain amid China reopening, likely capex push in Budget
Over half of the stocks in Nifty Metal Index are trading with a bullish sentiment ahead of Budget 2023,
 "Metals eye up to 15% gain amid China reopening, likely capex push in Budget")
Positive trend ahead for Nifty IT, bearish on metal index: Ravi Nathani
As per the technical analyst, the best trading strategy for traders would be to buy Nifty IT either at the current market price or at dips, with a target of 31,500
 "Positive trend ahead for Nifty IT, bearish on metal index: Ravi Nathani")
Barring OMCs, Paint & Tyre stocks may see adverse impact if Brent tops $88
OMC stocks like BPCL, HPCL are better placed on the charts; decisive move over their key hurdles could see next leg of upside
 "Barring OMCs, Paint & Tyre stocks may see adverse impact if Brent tops $88")
Tech view: Check key levels on Sensex, Nifty as trend remains indecisive
The overall sentiment towards the market has remained indecisive and ambiguous, with market participants waiting for a clear direction
 "Tech view: Check key levels on Sensex, Nifty as trend remains indecisive")
CEAT, Apollo, JK Tyre: NCLAT relief may drive tyre stocks up to 16% higher
Most tyre stocks including JK Tyre, Apollo Tyres, CEAT, MRF and TVS Srichakra look strong on technical charts, looking to rally up to 16 per cent
 "CEAT, Apollo, JK Tyre: NCLAT relief may drive tyre stocks up to 16% higher")
