The primary trend of the ICICI Lombard GIC's stock is bullish
Major stocks are facing resistance at a 100-day moving average (DMA).
Looking at the strong setup on the medium term charts, it would be advisable to buy Nifty around 9,900, for the upside target of 10,300.
Most hotel-related stocks gained ground in this backdrop, with Indian Hotels, EIH Ltd, Lemon Tree Hotels, TAJ GVK Hotels and Speciality Restaurants rallying up to 5 per cent
A follow-up buying may induce stronger momentum trapping short-sellers
The stock's primary trend is positive and its price is trading above 200-day SMA
Real estate stocks were in limelight on Thursday, after Union Minister of Commerce & Industry asked developers to cut prices and sell inventory rather than wait for the market to bounce back
Capitulation can be effective in various ways as it can lead to selling exhaustion, thereby prompting fresh stock buying.
The sharp upswing in the market has got several traders off guard. Shrugging off grim economic forecasts and rising Covid-19 cases, the benchmark Nifty has climbed 11.4% from May 18
Next target for the Nifty is seen at 10,160 and 10,550
Britannia has broken out of the consolidation range of Rs 3,400 to Rs 2,400 levels while Escorts witnesses buying above the resistance level of Rs 900.
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A gap down close after touching 100-DMA indicates selling pressure in HDFC Bank. he counter has consistently failed to conquer 100-DMA as gap-down close has forced prices to correct even further.
One needs to first gauge the overall trend by correlating different indicators and chart patterns with price momentum
As the nation-wide lockdown enters its fourth phase, albeit with some relaxations, air and rail travel continues to be suspended. Most of the related stocks in these two sectors have taken a hit
The stimulus package announced by the government since the past few days may trigger a further upside in these stocks over the next few days.
Till the time we are holding 9,000, the bulls should remain hopeful.
Finance Minister Nirmala Sitharaman announced a major liquidity boost of Rs 75,000 crore to NBFCs and microfinance institutions (MFIs).