The stock of HDFC AMC is moving above the 50-EMA level of 2,935 and is showing further strength
We finally witnessed a decisive price and volume breakout from the recent congestion zone in Strides Pharma
All the stocks are trading above their respective important averages, indicating upward bias
The mean of the Bollinger band has historically proven strong support for Adani Enterprises, making it a favourable risk-reward ratio for a short-term duration
If the Nifty FMCG index manages to sustain above the 35,000-levels, it is expected to see a fresh breakout toward 36,200 to 36,400 levels
Hind Petro has been witnessing profit-taking in line with other OMCs and now reached its major support zone of long-term moving average(200 EMA) on the daily chart
Longs should be protected with the stoploss of 14,275 in Nifty
If the indices fail to reverse the downward trend, these stocks may further plunge up to 10 per cent
If the Nifty IT index manages to sustain above 27,200 levels, the upside bias may see a rally towards 27,800-mark in the upcoming sessions
The deciding factor in days to come has to be the financial space
The chart of Escorts looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy
HDFCAMC has corrected from its recent high of 3360 odd levels and has consolidated near the 61.80% of the Fibonacci retracement
It is better to take stock-specific approach as the Nifty index is likely to remain choppy. Midcap and Smallcap Indices are expected to outperform
Nifty index can witness profit booking only if it breaks level of 14,800
The recent price chart displays a 'Bullish Flag' breakout in Happiest Minds' stock
A dead cat bounce suggests that more weakness is likely to emerge in the near term
The favorable indication from the pharma index is added positive for Biocon's stock
Godrej Consumer's chart looks attractive with the RSI also improving the bias and indicating strength for further upside move in the coming days
Asian Paints seems to have completed its corrective move and are poised for a resumption of the uptrend
Support for the Nifty is seen at 14,500 and with that as a stop loss, traders should remain bullish