The stock of Indian Bank has broken out from ascending triangle on the weekly charts
FSL is in a secular bull run and is placed above all its major exponential moving averages on the daily time frame
Considering the recent market behaviour, it is pretty clear that the bulls are not willing to loosen their firm grip so easily
On the daily time frame, the stock of BSE is on the verge of providing an 'Inverted Head & Shoulder' pattern breakout affirming the bullishness
The analyst from Anand Rathi recommends to buy these stocks based on a positive technical set-up
The stock of Bajaj Consumer, after a decent correction, has bottomed out near 245 level
Here's why the analyst recommends accumulating Eicher Motors and Voltas, but to sell Zee Entertainment Futures
Stocks like Bajaj Electricals and NALCO can even surge up to 20 per cent each; while MCX, JK Lakshmi Cement and Tata Coffee are also looking good
LIC Housing Finance seems to be trading near its multi-year strong demand zone, and charts also indicate formation of likely bottom around Rs 350-360 zone
Kaveri Seeds chart indicates a trend reversal, while Piramal Enterprise is in a rising channel pattern
Bajaj Finance: The daily chart depicts three back-to-back 'Doji' candles and the first one specifically can be termed as a 'Gravestone Doji'
Rossari Biotech has been in a secular uptrend and is placed well above all the major exponential moving averages on the daily charts
Nifty is expected to continue its uptrend and longs should be held on a trailing stop loss basis
The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000 mark
Ashok Leyland stock has witnessed a decent correction from Rs 143 level and bottomed out near the significant 200-DMA level of Rs 116
Aurobindo Pharma has corrected over 35 per cent from its lifetime high and has plunged below all its major exponential moving averages
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
Nifty is expected to surpass the intraday all-time high of 16,702
Traders are advised to remain light for a while and the ideal strategy would be to look at the individual stocks than the benchmark index
Technical picks from Osho Krishan, senior manager - equity research, Anand Rathi Shares & Stock Brokers