As of now, the downside is limited in mid-cap banks with volumes staying subdued.
The technical analysis revolves around three major indicators: the price indicator, volume, and basic technical indicators that determine strength, oscillation, and momentum.
The golden ratio is typically translated into three percentages: 38.2 per cent, 50 per cent, and 61.8 per cent, which are considered key retracement levels for a stock or an index.
Sun Pharma's counter has provided a fresh breakout after retesting its rising channel on the daily chart
We can witness short-covering move along with the addition of fresh position only if the Nifty breaches 11,200 level.
Tata Motors' stock has provided breakdown from a head and shoulder pattern on the daily chart
The entire pharma space has been in limelight since the coronavirus pandemic outbreak
The most widely used, the 200 DMA, is a technical indicator used to analyse and identify long term trends
Bata India's stock is on the verge of a breakout from a downward sloping trend line
This is viewed as an extremely bullish pattern as continuous three positive closes indicate the beginning of a strong buying
L&T is on the verge of breaking out from the symmetrical triangle pattern on the daily charts.
Momentum oscillator MACD has provided a fresh buy crossover on Nestle's daily chart
For Nifty IT, the immediate support comes in at 16,400 levels on a closing basis and the rally should move towards 17,500 and 17,700 levels.
The idea behind this strategy is to book profit and take a fresh view.
Whenever the 'Aroon Up' shows sideways movement, the price is expected to show mild-to-severe correction, but it helps to identify the upcoming change.
ADX has a strong significance from a long-term perspective. However, recent years have seen traders using it for a short-to-medium term perspective.
Petrol prices on Friday crossed the Rs-80 mark in Delhi as OMCs announced the 20th hike in a row. Petrol price was increased by 21 paise to Rs 80.13 per litre in Delhi. Diesel jumped by 17 paise
Here's a look at what major technical indicators suggest for Nifty Bank and its key constituents and what should be your trading strategy
One can develop his/her own remote model, which should be able to achieve over 80 per cent accuracy.
Better the confirmation, stronger the view. It is wise to wait for the next session to give an appropriate confirmation. A green close suggests upward rally and a red close indicates weakness.