Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Once Nifty surpasses 12,160, we may see Nifty retesting of 12,220 - 12,250 levels
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
The RSI of SBI Life indicates a trend reversal to signal a buy and with decent volume participation witnessed.
Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities.
IRCTC has given a decent rally recently and now, after a brief consolidation, has again given a breakout and we anticipate further upside move in the coming days
Nifty is expected to bounce or retrace 50 per cent of the recent fall. Hence a bounce till 12,150 can't be ruled out.
The weekly trend in Nifty and BankNifty continues to be down. The support for the week is seen at 40,300/11,820, while resistance is seen at 41,980/12,380
With the chart looking promising, we suggest to buy Hindalco and accumulate the stock with an upside target of Rs 220-225 keeping the stop loss near Rs 180 levels.
The range of 12,000-12,050 is a strong resistance zone for the Nifty, which should be taken out on a closing basis to negate the bearish trend.
The Nifty seems to have completed wave B of the bounce and wave C up on the hourly charts is expected
As per weekly option data, a handful of call writing on higher strikes ranging from 11,800 to 12,200 is observed which shows Nifty is witnessing strong resistance in the sub-11,800 zones.
The bias remains corrective and cautious. However, it is also time to cherry-pick good stocks like SBI, Maruti, Tata Steel, FMCG, etc to accumulate.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
We may see Nifty going back to 12,300 - 12,390 ahead of the budget and a positive outcome would enable it crossing this sturdy wall of 12,400 convincingly.
The support for the week is seen at 40,950/12,030 while resistance is seen at 42,260/12,460. Bank Nifty would have a range of 30,580-31,880
The Nifty is likely to bounce till 12,300 levels in the short-term after which it is again likely to correct
The RSI on GIC Housing Finance's chart is showing a trend reversal and the chart looks good too for the further upside
Currently, Ramo Cements' stock is hovering in a range, after a sharp up move, offering fresh buying opportunity to those who missed the chance earlier
Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities