The mean of the Bollinger band has historically proven strong support for Adani Enterprises, making it a favourable risk-reward ratio for a short-term duration
Hind Petro has been witnessing profit-taking in line with other OMCs and now reached its major support zone of long-term moving average(200 EMA) on the daily chart
The chart of Escorts looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy
HDFCAMC has corrected from its recent high of 3360 odd levels and has consolidated near the 61.80% of the Fibonacci retracement
The stock price has already given bullish breakout from the downward slopping trendline adjoining the highs of 08-Dec-2020 and 12-Jan-2021
It is better to take stock-specific approach as the Nifty index is likely to remain choppy. Midcap and Smallcap Indices are expected to outperform
Nifty index can witness profit booking only if it breaks level of 14,800
The stock of SBI Card has witnessed a decent correction from the peak of 1139 levels and has bottomed out near 920 levels
The favorable indication from the pharma index is added positive for Biocon's stock
Godrej Consumer's chart looks attractive with the RSI also improving the bias and indicating strength for further upside move in the coming days
The stock of Adani Ports has seen some correction from its lifetime highs and, in the last two days, it witnessed a reversal
RSI Indicator has given 'buy' signals on Biocon and VIP Industries' stocks
On the indicator front, the MACD is comfortably placed above its signal-line and the 14 period RSI is soaring northwards, affirming that Ambuja Cements' stock may surge in the coming future
HCL Tech has surpassed the hurdle of the previous swing high of late and is gradually inching towards its record high
The primary trend of the markets is bullish as short term moving averages are trading above medium to long term moving averages and Nifty has been holding higher tops and higher bottoms
The chart of Bajaj Auto looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy
Most IT stocks are holding strong despite the recent volatility in the market and now look upbeat for a rebound
At current juncture, Bandhan Bank's stock is hovering just above the clusters of moving averages on daily chart
Hindustan Unilever has shown signs of picking up momentum, thus improving the bias, and has the potential for an upside from hereon
The stock price has broken out on the daily chart where it closed above 200-day EMA with higher volumes