Aurobindo Pharma has corrected over 35 per cent from its lifetime high and has plunged below all its major exponential moving averages
Info Edge (Naukri) has finally witnessed a breakout from a broader consolidation range of Rs 4,200-5,600 after spending nearly eight months there
Nifty is expected to surpass the intraday all-time high of 16,702
Traders are advised to remain light for a while and the ideal strategy would be to look at the individual stocks than the benchmark index
Technical picks from Osho Krishan, senior manager - equity research, Anand Rathi Shares & Stock Brokers
ADX indicator has crossed the DI line on the upside, which indicates high momentum phase for the Nifty
Top buy and sell ideas for the day
The stock of BSE has witnessed a decent correction from 1,400 level and has bottomed out at 1,070, near the significant 50EMA level of 1,065, and is showing signs of reversal
Amara Raja Batteries has been trading with a corrective bias for the last eight months and recently tested the major support zone around Rs 690 levels
Hindustan Petroleum has seen a strong closing in the last trading session and is currently hovering between its short and medium exponential moving averages on the daily chart
Bharti Airtel has been trading in the consolidation range for the last two months after retesting the major support zone around Rs 520 levels
ITC has certainly provided a trend line breakout on all time frames and is anticipated to surge higher
It would be very important for the banking index to surpass the 36,000 mark to push the benchmark to new highs
Hero MotoCorp's stock has broken down below the last six week's price consolidation
Bandhan Bank has been trading in a steady downtrend and is facing selling pressure on every rise
After a decent correction from the peak level, Wockhardt stock has bottomed out near Rs 520 zone
Berger Paints after the recent up move has been consolidating in a narrow range around its record high
Cadila Healthcare's stock has taken base near Rs 600 levels on two occasions recently, forming a good support zone
Motherson Sumi's stock has seen some buying interest in the past trading sessions and settled well above all its major moving averages on the daily time frame
Voltas stock is consolidating near the neckline of the Inverted Head & Shoulder pattern on the daily time frame and is expected to rebound from here onwards