Markets edged higher as expected, gaining over half a percent. After a flat start, the Nifty gradually climbed throughout the session and closed near the day's high at 23,868.80
Banking stocks are witnessing decent traction and IDFC First Bank has witnessed a fresh breakout. It had been trading in a corrective phase for over 8 months
Pharma sector has witnessed a fresh breakout from the consolidation to record high levels and Sun Pharma is offering a fresh buying opportunity
Defensives are seeing strong activity, with pharma also performing well. Cipla, in particular, has achieved a fresh breakout from its consolidation range, reaching a new high
Muthoot Finance has been in a steady uptrend for over 10 months, consistently forming higher highs and lows with a gradual increase in volumes
Ajit Mishra, SVP-Research of Religare Broking expects the Nifty to face resistance in the 22,300 - 22,400 range.
Nifty50 outlook: On the downside, the 21,850-22,150 zone is anticipated to provide support. Traders are advised to maintain caution
The technical analyst from Religare Broking recommends to buy and accumulate these stocks in the given range
We're seeing noticeable traction in the auto space and Hero Moto is also finally resuming the uptrend, Mishra said
Coromandel International, HDFC Life Insurance Company and SAIL are the stocks that the technical analyst from Religare Broking is bullish on
The Religare Broking analyst also recommends buying Apollo Tyres
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
Info Edge (Naukri) has finally witnessed a breakout from a broader consolidation range of Rs 4,200-5,600 after spending nearly eight months there
Tata Motors has formed a fresh shorting pivot and is likely to resume the corrective phase.
Bharti Airtel has been trading in the consolidation range for the last two months after retesting the major support zone around Rs 520 levels
Bandhan Bank has been trading in a steady downtrend and is facing selling pressure on every rise
Berger Paints after the recent up move has been consolidating in a narrow range around its record high
IGL has witnessed a breakout from the consolidation range of Rs 500-545 levels after spending nearly four months there
Britannia has been trading in a broader consolidation range of Rs 3,350-3,840 for the last one year and is currently hovering in the middle
MGL witnessed a fresh breakout from the consolidation range on June 15 and made new record highs as well