Balrampur Chini, Tata Motors and ICICI Lombard are top 3 stock ideas of the week from Rupak De, Senior Technical Analyst, LKP Securities. “Balrampur Chini has given a swing high breakout on the weekly chart, suggesting a rise in optimism. The weekly RSI is in bullish crossover with an indication of strong price momentum. Over … Read more
Nifty ended Tuesday’s session 21 points higher to form a Doji candle as 25,000 emerged as a strong hurdle. The short-term trend of Nifty continues to be choppy, but the near-term uptrend status remains intact. The overall chart pattern is signaling some more consolidation or minor dip in the next 1-2 sessions before bouncing back … Read more
Nifty Bank, which has been underperforming in the last few weeks, looks ready for a smart recovery in the short term. “Going forward, a move above 51,500 might induce a decent rally towards 52,500. On the lower end, support is placed at 51,000,” says Rupak De, Senior Technical Analyst, LKP Securities. Edited excerpts: How would … Read more
After ending Friday’s session nearly 7% higher, shares of Tata Consultancy Services (TCS) could rally towards a new 52-week high of Rs 4,400. “On the weekly chart, the stock had found support at the rising trend before the recent rally. On the daily chart, the stock has given a consolidation breakout. Suggesting a rise in … Read more
Nifty on Monday formed an Inside Bar candle on the daily chart as it ended 131 points higher at fresh closing high. Positive chart pattern like higher tops and bottoms is intact. The underlying trend of Nifty remains positive. The market is racing towards the next upside target of 24,400 levels in the near term. … Read more
After forming fourth successive bull candles on the daily chart, Nifty ended June derivative series above the 24,000-mark for the first time ever amid short covering. The underlying trend of Nifty continues to be positive. A sustainable move above 24000-24100 levels could pull Nifty towards another Fibonacci extension resistance of around 24380-24400 levels in the … Read more
A confident NDA could propel the Nifty towards 26,300 and beyond in the medium to long term, says Rupak De, Senior Technical Analyst at LKP Securities. Edited excerpts from a chat in which the analysts also shares two stock ideas for the week. In the post-election result week, do you see some signs of more … Read more
Ahead of the much-anticipated outcome of the Lok Sabha election results, the FII long-short ratio stands at a multi-year high of 87% shorts in the index futures, coupled with heavy selling in the cash market. On the other hand, retail investors are holding highly leveraged long positions. “Both these factors are a bit scary. That … Read more
