As per weekly option data, huge call writing on higher strikes ranging from 11,700 to 12,000 is witnessed which shows Nifty would face resistance in the zone of 11,800
The stock of Reliance Industries (RIL) has recently corrected well and now has shown signs of bottoming out near 2,000 levels
For this week, 11,500 - 11,600 has now become an important support zone
Mahindra & Mahindra, Page Industries, TVS Motor Company, and Wockhardt are among the noticeable names that are exhibiting trend reversal.
The momentum indicator RSI has reversed from its oversold territory and breached its falling trend line on the daily scale in Adani Enterprises
Short term trend of HPCL stock has turned positive where it is trading above its 5 and 20-day EMA
For Sensex, Nifty50, and Nifty Bank, the underneath trend is bullish till the crucial support levels are held on a closing basis.
When it comes to choosing a risky investment, market participants opt for stocks with higher standard deviation that provides volatility, which can be used for quick profits.
As per weekly option data, huge call writing is witnessed on higher strikes ranging from 11,700 to 12,000 which shows Nifty is going to face resistance at 11800
Rising coronavirus cases, especially in Europe, are keeping gold supported, more so because of the possible economic fallout
Ipca Labs has tripled in the last one year from the lows of Rs 817 and continues to hold the same strength and momentum. Charts indicate more headroom from the current levels
Nifty is forming a symmetrical triangle with "shortall" in place on the daily chart, which indicates that the chances of bullish breakout is higher than the bearish breakout
The auto pack is largely trading in tandem with the benchmark and most stocks have recovered to their pre-Covid levels
The overall medium-term trend can take the stock towards Rs 800 levels, charts suggest
We can witness short-covering move along with addition of fresh position only if Nifty breaches 12,000
The stock of Motherson Sumi has formed a decent base near 102 levels, almost making a double bottom pattern, and has currently given a spurt to indicate strength
Adani Gas stock is on the verge of a major breakout from a symmetrical triangle formation on the daily chart
ADX ascertains a bullish trend on a bigger time frame more accurately, particularly when the price is about to scale the 25 value.
As per weekly option data, handful of put writing on lower strikes ranging from 11,600 to 11,800 is witnessed which shows Nifty would face firm support in the sub11,800 zone
BankNifty index has broken out from the "Flag" pattern on the daily chart, which indicates a fresh momentum buying the Banking stocks