Overall, the Nifty IT index has declined 19 per cent from its historic peak of 39,446 recorded in early January, 2022. Charts indicate 31,000 to 30,000 as the accumulation range for the index.
Among FMCG stocks, Adani Wilmar seems to be better placed at current levels as per the technical charts.
The derivative analyst from HDFC Securities recommends buying Bandhan Bank April 360 Call and simultaneously selling 360 Call.
Bharti Airtel needs to overcome its resistance at Rs 780 for further upside; MTNL, Voda Idea can zoom up to 30%
The technical analyst from HDFC Securities expects the Nifty to find support around 17,450-odd levels.
It would be advisable to trade longs with trailing stop loss. Support for the index is seen at 15,800.
The derivative analyst from HDFC Securities recommends buying CHAMBAL FERT March 400 CALL at Rs 13.50 & simultaneously selling 420 CALL at Rs 7.50.
Since the last couple of months, HAVELLS INDIA has corrected by almost 26 per cent from the top and is now hovering near 1200-mark
The technical analyst expects the overall trend for the market to remain choppy, with the NSE Nifty likely to face resistance around 17,639 and 17,794.
Infra related stocks can easily see a jump of 10 per cent in quick time
With the exception of SAIL, other PSU stocks could breakout upon any positive news in the sector
Similar to Aptus Value Housing Finance's stock, ABFRL confirmed a major breakout from the falling trend line formed by joining two prominent swing highs
Year 2020 may see up to 20 per cent jump in these stocks, as the chart formations reveal higher interest of market players in these counters
Traders are advised to buy MOIL and Shriram Transport Finance on dips near 178 and 1200, respectively.
Nifty should be held long with the stoploss of 16,650.
The stock of Bandhan Bank has been underperforming the banking index and is still struggling below the resistance zone of moving averages
Among stocks, the technical analyst from HDFC Securities recommends buying M&M Finance and Indian Bank
We're seeing noticeable traction in the banking pack and Federal Bank has recently witnessed a breakout from a consolidation range
CUMMINS INDIA is trading in a rising channel and is currently placed near the lower band of the channel signalling a near-term resurgence
18,000 holds key for the bulls and as long as it is defended comfortably, the bulls have no reason to worry about