On Wednesday, the stock has formed an Evening Doji Star candlestick pattern on the daily time frame. Evening Doji Star is a reversal candlestick pattern that is bearish in nature and appears at the end of an uptrend.

On Wednesday, the stock has given a 36-days consolidation breakout on the daily chart. This breakout was supported by a robust volume of nearly 4 times of 50-days average volume, which indicates important buying interest.

The stock of Vodafone Idea Limited has surged above its 200-DMA. Today, the short covering has been witnessed in September futures. Read onto know what the technical chart, as well as the options data, are suggesting about the stock.

The stock of ITC Limited has given a trendline breakout on the daily chart. Today, the 230CE of September series has gained over 900 per cent. Read onto know what the technical chart, as well as option chain, are suggesting about the stock.

The stock of Gujarat Fluorochemicals Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

Considering the daily chart, the stock has given a 40-day consolidation breakout. This breakout was supported by a robust volume of more than five times of 50-day average volume, indicating strong buying interest by the market participants.

This is an extremely rare pattern and usually occurs at the top of an uptrend. Generally, we rely on the typical momentum indicators or oscillators for recognising an overbought and oversold condition of the stock. However, this Japanese candlestick pattern gives us a unique way to recognise the time when the momentum is about to wane out. 

On Tuesday, Nifty Media index gained over 14 per cent and also surged above its prior swing high, which was registered in the month of June. The stock of Network 18 Media & Investments has gained nearly 7 per cent. The stock has also given a 60-day consolidation breakout.

The benchmark index Nifty has formed a dragonfly Doji candle on the daily chart. The long lower shadow of the candle is indicating that all the dips are being bought. Let’s have a look at some technical charts for the short term.

The broader markets were seen outperforming the frontline gauge with Nifty Midcap 100 and Nifty Smallcap 100 soaring over 0.45 per cent & 0.54 per cent, respectively. The advance-decline ratio was marginally in favour of advancers.

The stock has relatively outperformed the frontline indices in the recent upward rally. Also, the stock relatively outshines Nifty 500 with a decent margin. The relative strength comparative chart with Nifty and Nifty 500 is in rising mode.

The stock of HDFC Life Insurance Company Limited has given a trendline breakout on the daily chart. Today, the 800CE of September series has gained over 500 per cent. Read onto know what the technical chart and option chain are suggesting about the stock.