The bias is likely to remain bullish as long as Crude Oil futures sustain above Rs 7,830, below which the next crucial support is at Rs 7,730.
According to the technical analyst from Anand Rathi, Genus Power has confirmed a multi-year breakout above the Rs 95 mark, and seems poised to rally towards Rs 140 in the next few months.
Among FMCG stocks, Adani Wilmar seems to be better placed at current levels as per the technical charts.
NTPC, Adani Ports, Coal India, M&M and BPCL can rise higher, indicates technical charts
According to the technical analyst from Anand Rathi, Suntech Realty is on the verge of breakout; whereas, Tata Power is testing its key support.
Ambuja Cement is exhibits a positive bias, and is likely to further gains on follow-up buying; whereas other cement stocks need to overcome major hurdles.
The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.
The technical analyst from HDFC Securities has buy call on ICICI Prudential Gold ETF and sell call on Mothersonsumi.
HDFC twins, HDFC in particular, may see some more downward pressure; whereas PSU banks like SBI, Canara Bank and BoB can rally up to 9 per cent.
Shares of Paytm are expected to jump up to 20 per cent after overcoming the resistance at the 50-DMA.
ICICI Prudential Life Insurance seems to be headed towards the 200-DMA, while Infosys and HDFC Bank need to be monitored closely over the next few trading sessions.
The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside.
According to the technical analyst from Anand Rathi, Welcorp can rally towards Rs 240, whereas UltraTech can slide to Rs 6,400 in the coming weeks.
MCX Crude Oil futures can test the 20-DMA in the near term placed at Rs 7,900-odd level.
The stock needs to create a strong base and momentum in the range of Rs 4,000 to Rs 3,800 levels, which the stock has been unable to conquer with ease.
The index heavyweight lost significant ground after breaking its earlier support at Rs 2,600, and now trades 18 per cent lower from its 52-weeks high.
Major FMCG stocks are not showing exciting structure on charts, better play is to avoid them.
Stocks breaching 200-DMA may see aggravated selling pressure in coming sessions.
As long as the underneath trend is bullish, volatility and minor dips shall be seen as opportunities to go long
A Double Bottom breakout on metal index indicates an upside towards 6,300-level, which is 7% higher from current levels.