Weekly Technical

Market outlook for the week Aug 26 - 30: The Nifty needs to clear resistance at 24,971, and Sensex at 81,750 for further gains. Here are the key support levels to watch out the NSE, BSE benchmarks.

Stock market preview Monday, April 29: Gains in global peers and healthy Q4 earnings so far likely to help Sensex, Nifty start the holiday-shortened week on a positive note. UltraTech Cement Q4 today.

SJVN, Tata Teleservices (Maharashtra) and TV18 Broadcast may rise 50 per cent on resilient charts

The trend among stocks in oversold regions remains highly fragile and could see more downside ahead

The trend in these stocks remains highly robust, with price action exhibiting strong interest from market participants.

While the trend looks fragile, key supports are continuing to bolster the up move

So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy

Technical charts of M&M shows weakness, while RBL Bank continues to remain resilient.

The FMCG index has breached previous reversal support, igniting fear of caution among retail traders. This move emerged after the index reached a new historic peak a few sessions ago.

While the medium-term outlook remains highly optimistic, the stock may remain choppy in the near-term

Overall trend - the Nifty Small cap index continues to remain highly robust, with an intend to reach a new historic high.

Selective IT stocks may rise up to 22% in the upcoming sessions, as per their technical charts

Technically, when any stocks crosses crucial hurdles and witnesses accumulation at key supports, the trend is expected to witness robust upside ahead.

Once the range of Rs 3,380 to Rs 3,350 is conquered, TCS shares are set to hit a new historic peak. HCL Tech, meanwhile, may slip under Rs 1,000 if it fails to hold the 200-DMA

These 5 buzzing stocks may rise up to 15% in the coming sessions

Selective textile stocks are developing robust chart structures

The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness.

Selective tyre stocks are displaying resilient chart structures, poised to scale higher levels from a medium-term perspective.

Barring Eicher Motors, which is presently struggling near its 200-DMA; Bajaj-Auto, TVS Motor and Hero MotoCorp may rally up to 15%

Pharm index has broken out on upside, with the positive rally anticipated to hit 14,450