The stock of Indian Hotels has recently bottomed out near 90 levels and has picked up momentum to improve the bias
The auto pack has been showing tremendous resilience on every dip and TVS Motor is keeping with the trend. It has rebounded sharply after a dip last week and again trading closer to the yearly high
The stock of Radico Khaitan has found the support of its rising trend line and has also formed a reversal candle on the daily chart
Primary trend of the stock is negative where stock price is trading below its important moving averages
Nifty has violated the support of its 50 days EMA. The trend would be considered bearish unless Nifty closes above 11,450
The stock of UPL is making a higher top and higher bottom formation on the daily chart which indicates every decline will attract fresh buying interest from lower levels
The stock of ICICI Bank has witnessed a decent correction recently and has maintained the support zone near 360 levels
Long build up is seen in the Manappuram fin Futures' where we have seen 7% (Prov) rise in the Open Interest with Price closing flat
All indicators point to a gradual rise in Aurobindo Pharma's stock from the 100 EMA support
Close above 11,585 would negate the bearish setup on the short term charts and could push Nifty towards the recent high of 11,794
The momentum indicator for FDC has reversed from the overbought territory which hints of further positive momentum in the counter
On the lower side, 11,350-11,200 would be seen as a key support zone
Britannia's stock has shown signs of bottoming out
The momentum indicators and oscillators on the weekly scale are very well on buy mode. The volatility index --India VIX -- has also started cooling down which is giving comforts to the bulls
It would be advisable to remain bearish in the market unless Nifty surpasses the resistance of 11,585
The momentum indicators and oscillators are very well in the buy mode on daily as well as weekly scales which hints of a further positive momentum in TCS
Sun Pharma's stock is in a rising trend
Looking at the technical set up, with last week's price activity, we can see a formation of 'Bearish Engulfing' pattern on weekly chart
Short term trend of the stock is positive where stock price is trading above its 5- and 20-day Moving Averages
The recent high of 11,794 would continue to act as strong resistance for the Nifty