Page 6 - Technical Analysis
TCS, HCL Tech, Infy: How to trade IT stocks ahead of Q3 results?
The overall trend in the IT stocks have remained laggard and continues to bear high risk element.
 "TCS, HCL Tech, Infy: How to trade IT stocks ahead of Q3 results?")
Bears likely to get stronger below 17,960 on the Nifty, says Ravi Nathani
On the upside, the technical analyst sees 18,336 as the key resistance for the Nifty 50.
 "Bears likely to get stronger below 17,960 on the Nifty, says Ravi Nathani")
Crude Oil may weaken below Rs 6,340; key support for Natural Gas at Rs 333
On the downside, MCX Crude Oil January futures could slide to Rs 5,940 or even re-test the recent lows at Rs 5,850-level; Natural Gas seems on course to test Rs 290 level.
 "Crude Oil may weaken below Rs 6,340; key support for Natural Gas at Rs 333")
Nifty, Bank Nifty exhibit a mixed bias, says Ravi Nathani
The technical analyst expects Nifty to test 18,336 and 18,464 on the upside; whereas Bank Nifty needs to surpass 43,860 for fresh buys, Nathani suggests.
Gold may enter short-term corrective phase, test Rs 52,000-level
On the upside, Gold futures need to break and sustain above Rs 55,230 in order to negate the likely corrective move. Meanwhile, Silver futures seem on course to test Rs 72,000.
 "Gold may enter short-term corrective phase, test Rs 52,000-level")
Trend to remain positive for Gold above Rs 54,040; Silver 66,940
On the upside, Gold futures are likely to counter some resistance around Rs 55,150, Silver around Rs 70,250.
 "Trend to remain positive for Gold above Rs 54,040; Silver 66,940")
Strong support for Nifty seen at 17,850; Buy the dips, suggests chart
The options data indicates that the Nifty may look to hold on the 18,000-mark till expiry, given the high OI at the 18,000 Put.
 "Strong support for Nifty seen at 17,850; Buy the dips, suggests chart")
Pivot point for MCX Crude at Rs 6,300; Natural Gas Rs 441
On the downside, the MCX Crude Oil futures can re-test its recent low around Rs 5,850-level; whereas, the next support for beaten-down Natural Gas contract stands at Rs 401.
 "Pivot point for MCX Crude at Rs 6,300; Natural Gas Rs 441")
Immediate hurdle for Crude Oil seen at Rs 6,400; Natural Gas at Rs 589
On the downside, Rs 5,850 seems to be a good support for Crude Oil; Whereas Natural Gas futures have multiple supports as per the daily chart.
 "Immediate hurdle for Crude Oil seen at Rs 6,400; Natural Gas at Rs 589")
Gold futures likely to re-test Rs 55,550; Silver on course to Rs 71,350
The bias for the remainder of December is likely to remain bullish as long as Gold futures trade above Rs 53,850. Meanwhile, near support for Silver is seen at Rs 67,500 - Rs 67,350 levels.
Nandish Shah recommends this F&O strategy in Bank Nifty for 22-Dec expiry
The derivative analyst from HDFC Securities recommends to Buy Bank Nifty 43,500 Call and simultaneously Sell 44,000 Call for the weekly expiry ending on 22-December.
 "Nandish Shah recommends this F&O strategy in Bank Nifty for 22-Dec expiry")
Here's why MCX Crude Oil can crack to Rs 4,800-level; Natural Gas Rs 280
The MCX Crude Oil and Natural Gas futures seem to be placed on a slippery ground on multiple time-frames, as per the charts.
 "Here's why MCX Crude Oil can crack to Rs 4,800-level; Natural Gas Rs 280")
Tata Coffee, CCL Products: Tea, Coffee stocks to brew more gains in 2023
After a breakout, stocks like Tata Coffee, CCL Products, Jay Shree Tea & Industries and McLeod Russel India may easily see up to 20 per cent gains
 "Tata Coffee, CCL Products: Tea, Coffee stocks to brew more gains in 2023")
CEAT, Apollo, JK Tyre: NCLAT relief may drive tyre stocks up to 16% higher
Most tyre stocks including JK Tyre, Apollo Tyres, CEAT, MRF and TVS Srichakra look strong on technical charts, looking to rally up to 16 per cent
 "CEAT, Apollo, JK Tyre: NCLAT relief may drive tyre stocks up to 16% higher")
MCX Crude Oil futures likely to consolidate, Rs 6,200 seen as major support
On the upside, the MCX Crude Oil December futures can test Rs 7,200 to Rs 7,400 levels during the consolidation phase.
 "MCX Crude Oil futures likely to consolidate, Rs 6,200 seen as major support")
LIC trims stake in large-caps: Check how Sun Pharma, Maruti look on charts
The technical outlook for Sun Pharma and Maruti remains bullish, while the trend for Bajaj Auto is looking weak on charts. Power Grid, meanwhile, needs to overcome the hurdle of Rs 240 level
 "LIC trims stake in large-caps: Check how Sun Pharma, Maruti look on charts")
'Buy the dips' in MCX Gold; Silver needs to hold Rs 60,100, charts show
On the upside, the MCX Gold December futures can retest it's last week high of Rs 53,200.
As Sensex struggles at 62,000, Nifty at 18,500, here's what can happen next
The BSE Sensex and NSE Nifty 50 have scaled fresh life-time highs in the last five straight years; charts suggest that the trend may continue this year.
 "As Sensex struggles at 62,000, Nifty at 18,500, here's what can happen next")
Strong support for MCX Crude Oil seen at Rs 6,850, Natural Gas at Rs 475
On the upside, MCX Crude Oil November futures can jump to Rs 7,250-level, whereas Natural Gas futures can gain momentum above Rs 510-level.
 "Strong support for MCX Crude Oil seen at Rs 6,850, Natural Gas at Rs 475")
MCX Gold may scale Rs 53,350 as trend turns positive; Silver eyes Rs 63,725
The near-term support for MCX Gold futures now shifted higher to Rs 52,000-level, whereas Silver futures likely to seek support near 200-DMA at Rs 60,800.
