Web Exclusive
Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin
The sideways move continues, and Nifty could now face resistance in the 22578-22775 band while 22198 could offer support in the near term.
Buy NHPC(CMP-103.55): | Target Rs 110.20,118.50| Stop-loss Rs 96.50
Stock Price has broken out from downward sloping trend line on the weekly chart. Stock has surpassed the previous swing high resistance. Price rise was accompanied by rise in volumes.
Stock price has been trading above all important moving averages, indicating bullish trend on all time frames. Indicators and oscillators have turned bullish on weekly charts.
Buy Tech Mahindra(CMP-1,325): | Target Rs 1,380,1478 | Stop-loss Rs 1,215
On 26th April, Stock broke out from the downward sloping trend line on daily chart. Price rise was accompanied by rise in volumes. Post breakout, stock witnessed correction and reached a gap support on the daily chart.
(Vinay Rajani, CMT, is a senior technical & derivative analyst at HDFC Securities. Views expressed are his own)
First Published: May 22 2024 | 6:54 AM IST
