Hot Stocks | Here's why you should bet on Nocil, Gujarat Alkalies, HDFC Bank for short term
The nifty50 index on the daily graph has been traded in a strong rising trend with low and higher high formations, and has formed a pattern of bullish which is a bullish reversal pattern.
The index may consolidate in the range of 16,300-16,800, where male cattle and bears sit.
Pain remains bullish during the index holding level 16,300 on downside based on closure. Obstacles 16,800, if issued, will see a sharp short cover to 17,200.
In the weekly graphics too, Nifty has provided an escape from the fall of the fall that confirms bullish.
Bank Nifty Index rebounds from the 36,300 support zone and is in a strong rise trend with a target of 37,500 on its positive side. The index has become a leader in the current rally and better performance is likely to continue.
Stocks on the weekly graph have taken support for rising trends that confirm the strength of the buyer at a lower level. The stock on the daily graph has consolidated in a tight distance and is on the path of the escape.
Also Read – Tata Motors Q1: Losses Widening to RS 5006 Crore was dragged by JLR
Breakouts placed in RS 742 coincide with 200-DMA (average moving days) that lead to changes in trends. The RSI (Relative Strength Index) indicator on the daily graph also shows a strong uptrend with a positive crossover.
Stock on the weekly graph has provided a strong escape from increased parallel trends with strong volume participation. Momentum oscillators such as RSI and Stochastic are traded in a strong buy zone.
Stocks on the daily graph have provided an escape from the rise triangle pattern which is considered as a bullish reversal pattern. Stock is on the way to test high levels of all time RS 320.
Stock after large performance -magnitude shows signs of reversal on the daily graph. Stock since the last few months has been consolidated in the range of 1,300-1,400 hospitals and showed a new escape.
The RSI indicator has entered the buying zone 60 which confirms a strong tone. MACD (average divergence convergence) has provided a zero line crossover on a daily graph that confirms the purchase signal.
