In the last one month, the Nifty Bank has tumbled 24.7 per cent as compared to Nifty's 23.64 per cent fall. Here are key levels for frontline banking counters.
The candlestick formations on the benchmark indices show a 'Bullish Engulfing' pattern, which suggests a change in sentiment to positive
On a year-to-date basis, the benchmark Nifty is down around 14 per cent
Barring Wipro, all the other major tech companies have outperformed the benchmark Nifty50 index which has slipped 7.6 per cent till date in 2020
The study of the same recurring patterns in the financial markets assists in developing trading strategies
Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
The Nifty 50 is trading around 200-DMA; if the selling pressure mounts then the index may see big selling pressure on stocks
The overall trend in the paint stocks remains bullish and any corrective move may see buying opportunities.
Simply put, a stop-loss is designed to limit an investor's loss on a stock. Setting a stop-loss order for 15 per cent below the price at which you bought the stock will limit your loss to 15 per cent.
The benchmark indices are holding the positive sentiment
Except Sun Pharma and Lupin, others have grown significantly and are showing less reversal signals.
Once the banking stocks start chipping in, the Nifty is likely to reclaim 12,220 - 12,300 in coming weeks
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
A candlestick defines the price movement and depending on the formation, one can determine the current sentiment and predict a trend.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Most stocks are witnessing selling pressure at higher levels. If that gets conquered, a fresh upside of 3-5 per cent is expected to happen.
Technical calls from Mr. Nandish Shah, Technical & Derivatives Analyst, HDFC securities
The dip in Nifty should be utilized as a buying opportunity for the target of 12,150
Except Voltas and Britannia, others may see selling pressure on every upside.