According to the technical analyst from Anand Rathi, both the stocks are placed well on a risk-reward ratio from a short to medium-term perspective
ICICI Bank is trading firmly in overbought condition, while Hindustan Unilever is still not showing signs of any reversal depsite trading in oversold territory
The technical analyst from Religare Broking also recommends to accumulate United Spirits. Check out the range below
The technical analyst from HDFC Securities suggests that Ashok Leyland has one of the strongest set-up on the charts in the auto space
According to the technical analyst from Anand Rathi, TCS has corrected from its all-time high and is hovering near its 61.80 percent Fibonacci retracement suggesting strong support levels
Reliance needs to sustain above Rs 2,700 for a strong upward momentum, while ICICI Bank seems to be on track to Rs 900 level
Both the stocks seem to have bottomed out after a decent correction and now indicate a trend reversal on the charts, says the technical analyst from Prabhudas Lilladher
Century Textile and VIP Industries are the two stock recommendations by HDFC Securities
Rossari Biotech has been in a secular uptrend and is placed well above all the major exponential moving averages on the daily charts
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
VOLTAS has seen strong reversal candlestick pattern formation near its 200 DEMA on the daily chart on the back of robust volumes, indicating an early sign of reversal in the counter
The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000 mark
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
SBI LIFE has been consolidating in a narrow range near its lifetime high zone from the past few trading weeks, indicating the formation of a strong base before another round of rally
The stock of Hindustan Unilever (HUL) is hovering near 21 DEMA
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
For Nifty, the immediate resistance zone can be seen around 14,575-14,650, where a sustainable move beyond 14,650 would negate the possibility of further correction
The Nifty50 has recovered more than 62 per cent of the entire fall which was registered from 14,653 to 14,222