Godrej Properties formed robust bullish candlestick pattern on the daily charts, with significantly higher volumes. The stock now traded above all key moving averages.
Blue Dart Express has seen a consolidation breakout, trading above all the key moving averages, and has formed a robust bullish candlestick pattern on the daily charts, with a manifold jump in volumes.
For the coming week, one can use a pullback on the Nifty to sell weekly Call options for a strike of 23,050, as it will not be easy for the index to break above 23,000 unless strong momentum is witnessed across the sector, says Ashish Kyal.
The markets are forward-looking and seem to have already factored in potential rate cuts, which explains the buoyancy in sectors like metals, real estate, and automobiles, says Anirudh Garg.
On the higher end, the record-high zone of 22,750-22,800 seems daunting for the bulls and until the Nifty witnesses a decisive breakthrough, the next leg of rally toward the 23,000 mark seems demanding.