The recent correction in the markets dragged Bajaj Finance's from the high of Rs 5,800 towards Rs 4,400-mark
The sustained level below 14,190 could drag Nifty towards 13,600-odd levels
Longs should be protected with the stoploss of 14,275 in Nifty
The stock price has broken out on the daily line chart where it closed at highest level since March 12 with higher volumes
Oscillators like RSI and MFI have broken out from the downward slopping trendline, indicating strength in Nifty's current rally
Short build-up was seen in the Maruti Futures' where we have seen 69 per cent (prov) rise in the Open Interest with price falling by 4 per cent
Support for the Nifty is seen at 14,500 and with that as a stop loss, traders should remain bullish
The stock price has broken down on the daily chart with higher volumes where it closed at the lowest level since 03 November
We can witness a short-covering move along with the addition of a fresh position only if Nifty breaches 13,000.
Trading longs should be held on with the stop loss of 12,700 levels. We expect midcaps to outperform in the coming days.
Bata India has been trading in a range for the last seven months, after a sharp slide from its record high.
Last week, we had witnessed a 'Bullish Flag' breakout around 12,050 and since then markets never looked back.
VRL Logistics has maintained a strong base near Rs 145 level.
We can witness short-covering move along with the addition of fresh position only if the Nifty breaches 11,200 level.
For the early part of the week, 11,200-11,250 should be considered as an immediate resistance zone for Nifty.
If there is no escalation in geopolitical concerns and Covid-19 cases, the Indian markets are likely to continue their northward trajectory
Recently, gas distribution companies have been in limelight
The stock of IGL has formed a morning star candlestick chart pattern on the daily scale which is considered as a trend reversal pattern.
Nifty managed to close above 10,000 ahead of weekly expiry and is likely to expire above this important level.
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.