Is there more steam left in these counters, or is it time to take money off the table? Here's what technical charts suggest.
Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels.
According to the technical analyst from Anand Rathi, Maruti is witnessing a formation of double bottom near Rs 7,600 mark, while NOCIL has seen a breakout above Rs 265 level.
Thyrocare, Dr Lal Path Labs and Metropolis are trading almost 50 per cent below their respective all-time highs, the reversal may see breakout if the key respective levels are sustained
The Rs 50,975-level is the pivot point for MCX Gold futures this week; Silver futures may trade in a broad range of Rs 60,165 to Rs 63,175 this week.
According to the technical analyst from Anand Rathi, Elecon has confirmed a range breakout while HPCL seems to be testing support at its long-term trend line.
Charts reveal that ITC seems poised for another 15 per cent rally; Similarly, Godfrey Phillips has seen a "Golden Cross" and looks promising while others are seen testing historic support levels.
Titan and Lupin seem poised for solid gains among Rakesh Jhunjhunwala's portfolio, while shares of Lupin, Star Health and Jubilant Pharmova can be avoided for now.
On the downside, the MCX Crude Oil futures may test support near Rs 8,600-level; Natural Gas futures are likely to consolidate with support seen at Rs 600-mark.
The Bajaj and HDFC twins can rally up to 8 per cent provided the stocks manage to sustain above the following key technical levels on the daily and weekly charts.
With the end of easy money, market's risk tolerance is low, and this seems unlikely to change in the near term
The BSE Sensex and the Nifty 50 stand currently 10 per cent higher from the May 2021 levels, and if positive sentiment continues, the market may repeated a similar bull run.
The upside for MCX Gold June futures seem capped around Rs 51,400-level, while support is seen around Rs 50,670; Silver futures may consolidate in a broad range of Rs 58,480 to Rs 63,885.
Select sugar stocks like Balrampur Chini, Dwarikesh Sugar and Renuka had jumped up to 6-fold post the Covid-19 decline; However, off late the stocks have corrected sharply post export limitations.
Over past decade, strong retail flows have coincided with declining / low deposit rates, said analysts at Jefferies, who expect the deposit rates to go above the 7 per cent level with a lag
The technical analyst from HDFC Securities recommends buying Transport Corporation of India basis charts
According to the current chart structures, shares of OMCs needs to hold their relevant support levels to stay afloat.
Charts of steel stocks signal further downside, indicating a fall up to 20 per cent in select shares; cement counters indicate a wait-and-watch approach
That said, the derivative market average turnover has improved in May
We can see a possible earnings growth revival in the automobile sector if the raw material pressure softens and semiconductor availability improves