We can witness short-covering move along with addition of fresh position only if Nifty breaches 15,250
With the Tata Chemicals' stock continuously witnessing buying momentum in the overbought condition of Relative Strength Index (RSI), the strength remains intact
The trend of midcap and smallcap stocks has been strong and stock specific bullishness is likely to continue
Tata Motors has witnessed a fresh breakout on March 2, after consolidating in a range for a month
Whenever the stock price shows a reversal near the major moving averages, the turnaround is expected to be sharp, and the volumes tend to increase
With a strong gap-up on March 2, 2021, BPCL stock is near the resistance range of Rs 481 to Rs 483 levels
With a strong up move on March 1, 2021, the stock of Sun Pharmaceuticals now needs to cross the resistance of Rs 620 mark to see a breakout rally towards Rs 640 and Rs 655 levels
The PSU stocks are on a roll since the last couple of months and the way they are shaped up, they appear to perform well throughout this year
The 'Island Reversal' pattern formed by Sensex, Nifty, and Nifty PSU Bank index usually indicates a strong reversal in trend
Hindpetro has witnessed a strong rebound after forming a base above the support zone of moving averages ribbon on multiple time frames
Support for the Nifty is seen at 14,336 odd levels, where 50 days EMA is placed
The Nifty Metal index is struggling to sustain above the 3,600 mark. However, once breached decisively, an up move towards 4,000 levels can not be ruled out.
A breakout above Rs 2,100 in RIL's counter may see a rally towards 2,400
In the last couple of sessions, Petronet's stock prices witnessed a good traction and, importantly, it's backed by the more than average daily volumes
The stock price of IOC has broken out on the daily chart (Adjusted for dividend) where it closed at highest level since March 2020 with higher volumes
Technical indicators suggest further upside in the S&P BSE Oil and Gas index towards 15,800 to 16,000 levels.
The technical outlook continues to show more upside in these stocks
The middle EMA acts as support/resistance level in Keltner Channel
Short-term resistance for the Nifty is seen at 15,470-odd levels
LIC Housing Finance has witnessed a fresh breakout of late, after spending nearly a month in a consolidation range