The stock of ICICI Bank has breached its major rising channel on the downside and also provided breakdown from its double top pattern on the daily chart
The pullback which was seen from 7,511 to 9,889 seems to have ended and primary downtrend has started for Nifty
On Monday, we need to see how our market actually reacts to the US-China trade war reports. If markets don't react like SGX Nifty and shows some buying interest, then bull scenario remains valid
Indiabulls Housing Finance's stock is witnessing a reversal pattern on daily charts
The stock of ICICI Lombard GIC has indicated a breakout above the trendline resistance zone and has entered a new territory to imply strength
The stock price has broken out from the symmetrical triangle on the daily chart
The volatility India (VIX) has fallen below 40 levels, which is giving comforts to the bulls
As per weekly option data, handful of put writing on lower strikes ranging from 8,800 to 9,200 is seen which shows Nifty would witness firm support in sub 9,000 zone
Bharti Airtel's move remained resilient during the downtrend which the market witnessed in the current calendar year
The stock of Coal India, after completing its up move, has provided breakdown from a rising wedge pattern on the daily chart
The stock of City Union Bank has witnessed a decent erosion from the peak of around 240 levels and has bottomed out near 110 levels
Technically, the Nifty has managed to surpass the '20-day EMA' for the first time since Feb 24. Looking at the way charts are shaped up, Nifty can extend towards 9,500-9,700 over the next few days.
As far as levels are concerned, 8,000 followed by 7,800 would be seen as immediate supports
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Stock of Lupin is showing sign of oversold on RSI indicator. Breakout from the level of 638 would lead stock to witness more upward movement.
As per weekly option data, handful of call unwinding on higher strikes ranging from 10,000 to 10,300 can be seen which shows Nifty is losing its resistance in sub 10,200 zone.
Rising cases of Coronavirus outside China and its impact on economic growth has put investors in negative sentiments.
The previous bottom on the Nifty daily chart is placed at 11,614, which can also act as far support.
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