The stock of Bajaj Auto has breached its short term 21-DMA which was placed at 3020, which will now act as a major resistance
The stock of United Spirits has taken support near 570 and is forming a double bottom pattern in the daily chart
After a sharp dip in March 2020, Britannia Industries has recovered almost vertically and made a new record high at Rs 4,010 in July 2020
The stock of Federal Bank has picked up momentum to improve the bias and with the RSI indicator indicating a trend reversal
Grasim is witnessing a breakout from the range where it has spent the last two months
Traders are advised to hold Nifty longs with 11,200 stoploss and keep it trailing as Nifty rises
The stock of Wipro has provided breakout from a flag and poll pattern on the daily chart which is considered as a bullish continuation pattern
The stock of ABB has maintained a good base near 890 levels and has picked up momentum to improve the bias
Short term trend is positive where stock price is trading above all Important short-term moving averages
We can witness short-covering move along with addition of fresh position only if Nifty breaches level of 11,350. Therefore, traders should try to create long position, keeping close eye on 11,200
NIfty has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames
The stock of Cochin Shipyard has maintained a strong bottom near 320 levels and has given a bullish positive candle to imply strength
The short term trend turned positive for NMDC as it has closed above its 5 and 20-day SMA
Glenmark Pharma's stock is taking the support of a rising trend line
TITAN, after the breakout from a consolidation range, is gradually inching higher while holding strongly above the support zone of the long term moving average( 200 EMA) on the daily chart
This sharp recovery could end up being a dead cat bounce, as the trend-line support which was recently broken could act as a resistance at 11,250
The stock of Tata Consumer Products made a fresh all-time high and has provided breakout from a cup pattern on the daily chart
For the early part of the week, 11,200-11,250 should be considered as an immediate resistance zone for Nifty.
The stock of ICICI Bank has once again made a good support base near 340 levels and is currently indicating a trend reversal
The stock of IndusInd Bank has maintained a good base near 485 levels and has indicated a momentum pick up with positive bias