According to Vinay Rajani, banking as a sector has been outperforming for a while and technical setup of bank index is much stronger than Nifty.
According to Vinay Rajani of HDFC Securities, Nifty has got strong support at 17,944. High of 18,350 registered on Tuesday could act a short term resistance for the index.
According to Nandish Shah of HDFC Securities, the stock has broken out on the daily chart with higher volumes to close at highest level since December 10.
Logistics stocks have been showing strength on the medium term charts, according to Vinay Rajani of HDFC Securities.
Vinay Rajani of HDFC Securities recommends that traders hold on to their long positions with 17,640 stoploss for the Nifty.
Pharma as a sector looking good on the short term chart, according to Nandish Shah of HDFC Securities.
Vinay Rajani of HDFC Securities is bullish on Metropolis, Zensar Tech.
Short term trend remain bullish as the stock price is trading above its 5 and 20 day EMA.
Nifty should be held long with the stoploss of 16,650.
The company's customer addition during the pandemic was low in absence of an online demat account opening facility and onboarding of only parent bank customers
Capital goods as a sector looking good on the chart
Holding company discount in India could narrow in the long-run, says HDFC Securities
A larger correction is likely once the 16,782 supports are broken
The technical analyst from HDFC Securities suggests that Ashok Leyland has one of the strongest set-up on the charts in the auto space
To confirm short term trend reversal, Nifty needs to breach the low of 18,377 in the coming sessions
The stock price of PFC has broken out from the downward slopping trendline on the weekly chart
The stock of Indian Bank has broken out from ascending triangle on the weekly charts
Global crude oil prices are expected to remain elevated in medium term, said HDFC Securities.
The stock price of Alkem Laboratories has broken out on the daily chart
The broader trend for the Nifty remains bullish, with short-term support and resistance at 17,254-17,438 for the NSE index