The stock that hits a new lifetime high attracts more volumes resulting in higher price levels.
Tata Steel has witnessed "Death Cross" pattern on the weekly chart but RSI and MACD are trading with a positive crossover.
MTNL saw a continuous 'gap-up' close in last 16 sessions, while Bharti Airtel has been rising with 'Higher High, Higher Low' formation.
At current levels, the Nifty 50 is testing the 12,000 mark. Here is the list of stocks in Nifty 500 that are trading in overbought zone and could see some correction in the days ahead
According to the experts, the verdict will have a devastating impact on the telcos and Vodafone-Idea will be the worst-hit.
Over the last 12 months, Indian equities have been facing double whammy in the form of economic slowdown and stress in the financial sector.
Glenmark Pharma is continuously going down from Rs 600 levels and is not showing any sign of recovery.
The index had witnessed 10 per cent correction from June, 2019 and an upside of over 5 per cent in the past two sessions has strengthened the positive view on the technical charts
The S&P BSE Sensex on Tuesday tanked 642 points or 1.73 per cent to end at 36,481.09 while the NSE's Nifty50 settled at 10,818, down 186 points or 1.69 per cent.
Nifty Energy Index has been consolidating in the range of 14,730 - 13,750 since August. The formation seems like triple-bottom and a breakout would mean can take the index to 15,000 mark
Here's how the scrips of leading two-and four-wheeler manufacturers look on the technical charts.
Indigo is set to move towards its new all time high, while SpiceJet has absorbed selling pressure around higher levels
The Union Cabinet recently approved a subsidy of Rs 6,268 crore for the export of 6 million tonnes of sugar. The development triggered a rally in select counters
The stock has absorbed all the selling pressure in the range of Rs 760 - Rs 770 and is ready for a fresh upside. Although it witnessed mild selling above Rs 800, the overall trends still looks bullish
A bigger upside rally is expected only if it has added volumes and the Sensex is able to hold above the resistance zone
Trading strategies for media and entertainment stocks
Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.
If the Nifty Bank index stays below 2,600 level for another week, then a major breakdown may lead to a long term bearishness, tech charts suggest.
As the market breadth turns negative, only sideways consolidation or V-shape recovery can revive the positive sentiment.
As It began successfully trading above 200 DMA, the counter has more than doubled rising 175 per cent to Rs 1,417