Consolidation in Axis Bank may see breakdown if the counter closes below 100-DMA for two consecutive days.
The pattern consists of a shape that have three peaks which are categorised into the left shoulder, head and the right shoulder.
The overall outlook for the rail-related stocks looks promising.
Infosys and TCS are waiting for their respective range breakouts
In the last several years, the stock has crossed Rs 480 for about five times during intra-day but could never close above the level
The target level is usually the difference between the low of the rounding bottom and the price where the actual breakout happened.
A technical outlook on Indian oil marketing companies (OMCs) amid US-Iran tensions
A look at what technical charts indicate for these stocks.
Moving averages and technical patterns suggest that the upside momentum in Tata Group stocks is likely to stay high despite the recent developments
Power Grid is continuously trading above 200-weekly moving average (WMA) since June 2014.
Golden Cross is defined as an indicator of a major rally. It is essentially a crossover of short-term moving average with the long-term moving average.
Gaps are areas on a technical chart where the price of a stock (or another financial instrument) moves sharply up or down, with little or no trading in between
A double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal
Axis Bank may see huge buying momentum after a strong close above Rs 760. On a bigger scale, the stock has managed to hold around 200-days moving average (DMA) and has not shown any major breakdown
Even as Adani Transmission hit new lifetime high on Tuesday, most power sector stocks are showing bearish signs. Here is how they look on the technical charts
A Golden Cross breakout can trigger an upside rally in DLF
Both the technical parameters - Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) for Nifty PSU Bank index are trading with negative crossover and indicate weakness
The Nifty Bank has seen a sharp rally from 27,750 to 32,150 levels in the last 33 sessions. It witnessed one session of a "gap-up" close, whose range of 30,860 - 30,789 is not even filled
Hero MotoCorp, Mahindra & Mahindra (M&M), and Tata Motors have slipped in the range of 8-11 per cent over the last one month.
After a strong breakout above Rs 400, Bharti Airtel has managed to absorb the selling pressure in the range of Rs 440 - Rs 455.