IndusInd Bank on Friday logged its biggest intra-day fall since March 2020; technically the stock has given a fresh downside breakout on multiple time-frames.
Eris Lifesciences, BLS International and Five-Star Business are the other 3 smallcap stocks that look favourably placed on the technical charts in an otherwise weak market.
Reliance could seek support around its 100-WMA in the run-up to the bonus record date; Whereas, PNC Infratech too has witnessed a 'Death Cross' and could slide another 21% from here on.
Financials, IT, Energy and Auto sectors account for over 52% weightage on the Nifty 50 index; here's how the Bank Nifty, IT, Energy and Auto indices are placed on the charts, and likely trend ahead.
These 5 smallcap stocks have given a breakout on the hourly time-frame hence are expected to trade with a positive bias in the near-term, suggests the technical charts.
Overall trend of the MRF shares has become lucrative and highly optimistic following decisive rally over the key hurdle of Rs 95,000. The short-to-medium trend is poised for 20 per cent upside.
Shares of IDFC First Bank, IndusInd Bank, Bandhan Bank, and Axis Bank may surge up to 15 per cent, show technical charts.
Selective automobile stocks may soar up to 15%, show charts
Barring Adani Transmission, Adani Green Energy and Adani Total Gas appears for a smart reversal on the charts unless key supports are breached
CLOSING BELL: In the broader markets, the Nifty MidCap100 and SmallCap100 indices fell up to 1.6 per cent.
The analyst from Anand Rathi recommends to buy these stocks based on a positive technical set-up
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
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
Immediate target for Nifty is seen at 16,300-16,400 range while support has shifted up to 15,950 in Nifty
HDFC Life has formed a strong base after hovering in a narrow range for nearly a month and looks set to reverse the short-term downtrend
HDFC Bank has also rebounded sharply and surpassed the resistance zone of moving averages ribbon on the daily chart
Off late, the private banks have underperformed but they are showing signs of base formation
Upside target for Nifty is seen at 14,300 odd levels, which happens to be the 138.2 per cent Fibonacci retracement of the downswing seen from 12,430 to 7,511
The regulator has also directed two entities to disgorge unlawful gains of over Rs 21 lakh, made while dealing in the scrip of the firm