The technical analyst from Anand Rathi is also bullish on SBI Cards and Jubilant Ingrevia
Maruti Suzuki, Tata motors and M&M may see weakness at current levels, but the medium-term trend is highly bullish
Shares of IRB Infrastructure Developers jumped over 5 per cent, GMR Infrastructure added 2 per cent and Larsen & Toubro Ltd (LT) recovered following five days of bear hammering
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
Market participants have become cautious amid significant valuations and strong gains Sensex has achieved since the start of the year
Once the hurdle mark is decisively conquered on the higher side, the upside rally may see a new all-time high
The minimum return should be double the risk involved. ATR facilitates in identifying such stocks by studying the entry and exit levels.
Hero MotoCorp's stock has broken down below the last six week's price consolidation
Price-action and candlestick patterns rely more on the volume distribution
The secular uptrend in KIE Industries' stock has proved all minor corrections to be good accumulation points for the bulls
Bajaj Finance's stock price has broken out from symmetrical triangle on the daily charts, and rising volumes have confirmed the breakout
Recently, Cummins India's declining trend seems to have been arrested around the 750-mark, which coincided with the '89-EMA' on the daily chart
The basic idea is to find a structure that reflects a change in sentiment with market testing the higher highs and lower lows.
Here are trading strategies for a few such counters that look bullish on the charts and can appreciate at least 20 per cent from here on in the next two months
Every 100 points upside level in Nifty should be treated as an immediate resistance and now this level comes at 15,800
Godrej Properties has witnessed an Inverted Head & Shoulder pattern breakout on daily chart post taking support near its long-term EMA, indicating bullish sentiment in the counter
Volume needs to show significant improvement to impact the market sentiment
The 14-period RSI has seen positive crossover affirming the bullish stance in the Dabur counter from a short to medium-term perspective
Experts said the performance of banking and energy stocks, mainly Reliance Industries, will be the key for the market to hold on to current levels
In technical analysis, divergence is given greater preference as the 'divergence behaviour' may reflect a change in a price trend or sentiment