The stock of Mahamaya Steel Industries Limited has given breakout of Rounding Bottom pattern’s neckline on a weekly scale. The breakout was supported by justifiable volumes. Additionally, the stock formed a sizeable bullish candle on breakout week, which adds strength to the breakout.

WTI Crude oil forms bullish engulfing candle on a daily time frame. The bullish engulfing candlestick pattern is considered to be a bullish reversal pattern and usually occurs at the bottom of a downtrend.

Amara Raja Batteries Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stock of V-Guard Industries Limited has given symmetrical triangle breakout on the weekly time frame along with robust volumes. Additionally, the stock formed a sizeable bullish candle on the breakout week, which adds strength to the breakout.

The stock of Syngene International has given ascending triangle breakout on a weekly scale. This breakout was confirmed by the above 50-week average volumes. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern.

The stock of NCC Limited has formed a bearish engulfing candle on the weekly time frame. Bearish engulfing candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

The stock of Engineers India Limited has given downward sloping trendline breakout on Monday formed by connecting swing highs from December 24, 2019. The breakout was supported by justifiable volumes. Additionally, the stock formed a sizeable bullish candle on breakout day, which adds strength to the breakout.

The stock of ABB India Limited has given breakout of a horizontal trendline resistance on Monday along with strong volumes. Additionally, the stock had formed opening bullish Marubozu candle on breakout day, which adds strength to the breakout.

Mindtree Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stock of Bharat Financial Inclusion Ltd forms one white soldier pattern on the weekly time frame. The one White Soldier pattern is considered to be a bullish reversal pattern and usually occurs at the bottom of a downtrend.

The stock of Raymond Limited has given downward sloping trendline breakout on weekly scale. The breakout was supported by strong volumes.

The stock of Heidelbergcement India Limited gives consolidation breakout on the daily scale along with robust volumes. Additionally, the stock formed a sizeable bullish candle on the breakout day, which adds strength to the breakout.

The stock of Hindalco Industries has given falling wedge pattern breakout on the daily time frame. Additionally, the stock had formed a sizeable bullish candle on the breakout day, which adds strength to the breakout.

The stock has strong support in the zone of Rs. 1,400 - 1,373 as it has an unfilled upside gap which was formed on May 20, 2019. While on the upside, the 20-day EMA is likely to act as immediate resistance, which is currently placed at Rs. 1,515 level.

The stock of Larsen & Toubro Infotech Ltd has given downward sloping trendline breakout on the weekly time frame, along with relatively higher volumes.

Hexaware Technologies Ltd was picked by our Bollinger Band squeeze scanner on the weekly time frame, which suggests that the stock is close to a consolidation breakout.

The stock had formed a Dragonfly Doji candle on the weekly scale. The Dragonfly Doji is typically interpreted as a bullish reversal candlestick pattern that mainly occurs at the bottom of downtrends.

The stock had formed bullish belt hold candlestick pattern near the horizontal trendline support, which signals a shift in the sentiment from bearish to bullish.

The stock of Praj Industries Ltd has formed a bullish engulfing candle on the daily scale.

The zone of 28425-28350 is likely to act as crucial support for the index as it is the confluence of horizontal trendline support and 100-day exponential moving average.

Considering the daily time frame, the stock of Havells India Ltd formed a double inside day pattern near 100-day exponential moving average. The double inside bar is a price action candlestick pattern where two inside bars form successively.

The stock has strong support in the zone of Rs. 113.85 - Rs. 114.90 as it has an unfilled upside gap which was formed on May 10, 2019. While on the upside, the 20-day EMA is likely to act as immediate resistance, which is currently placed at Rs. 127.55 level.

At present, near the horizontal trendline support, the stock had formed a Doji candle on the weekly scale. The Doji represents indecision in the stock.

Larsen & Toubro was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stocks of L&T Technology Services Ltd has formed a bearish engulfing candle on a daily scale after touching horizontal trendline resistance, which indicates bears are taking control near the short term resistance.

The stock of JSW Steel Limited gave a consolidation breakout on the daily time frame along with robust volumes.

ICICI Prudential Life Insurance Company was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stock of Aurobindo Pharma has given downward channel breakout on the weekly time frame along with robust volumes.

Bharat Petroleum Corporation Limited (BPCL) formed the Three White Soldiers candlestick pattern on the daily time frame. The stock is currently trading above its long and short-term moving averages.

The index has formed the Three Black Crows candlestick pattern.The Three Black Crows candlestick pattern is a bearish reversal candlestick pattern. The pattern occurs when bears overtake the bulls during three consecutive trading sessions.

Hexaware Technologies Limited forms Homing Pigeon candlestick pattern on the daily time frame.

Himadri Speciality Chemical Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stock has given a bounce from the edge of the rising trendline support formed by connecting swing lows form October 9, 2018 and it coincides with the 34-day simple moving average, considering the daily time frame. The reversal from the support is justified with good volumes.

The stock had formed Hanging Man candlestick pattern on a daily time frame. The Hanging Man candlestick pattern occurs during an uptrend and warns that prices may start falling.

The 20-day Exponential moving average, which is placed around 29,653 is likely to act as an immediate support, while on the upside, the zone of 30000-30,150 is likely to act as a resistance level as downward sloping trendline is placed in this region and sustaining above this level decisively would lead to further acceleration of upward momentum.

The stock of TV18 Broadcast Limited has given downward sloping trendline breakout on Friday formed by connecting swing highs from October 16, 2018. The breakout was supported by strong volumes. Additionally, the stock formed a sizeable bullish candle on breakout day, which adds strength to the breakout.

It’s important for the stock to sustain and close above the neckline of the double bottom pattern which is placed in the region of Rs. 1,721-1,722. A sustainable move above the level of Rs. 1,721-1,722 is likely to open up gates for a further rally towards levels of Rs. 1,755.

The stock of Firstsource Solutions has given downward sloping trendline breakout on Tuesday formed by connecting swing highs from December 4, 2018. The breakout was supported by justifiable volumes. Additionally, the stock formed a sizeable bullish candle on breakout day, which adds strength to the breakout.

Sadbhav Engineering Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stock had formed bearish engulfing candle on daily scale, which suggests that bears are taking control. The Bearish Engulfing Candlestick Pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

The 20-day exponential moving average, which is placed around 29,530, is likely to act as immediate support, while the major support is placed around 29,150. On the upside, all-time high of 30,648.10 level will be a major hurdle for the index.

The stock had formed Evening Doji Star candlestick pattern. It is a reversal candlestick pattern which is bearish in nature and appears at the end of an uptrend.

Dish TV India was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

Ambuja Cement forms Homing Pigeon candlestick pattern on daily time frame. Homing pigeon closely resembles the harami or inside day pattern, except the both bodies are red rather than opposite in colour.

The stock has formed Dark Cloud Cover candlestick pattern on the daily scale. The Dark Cloud Cover is a bearish reversal candlestick pattern.

Tata Consultancy Services Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

Considering the daily time frame, the index has formed a reversal hanging man candlestick pattern. Additionally, the sectoral sentiment indicators suggest extreme overbought for the index as all the stocks are trading above its 200-day simple moving average, which suggest index is likely to witness some consolidation in coming days.

The Friday’s session low of 11,570 is very crucial for the bulls, as holding about this level would enable Nifty to challenge its record high level of 11,760. On the other hand, a failure to hold this support would invite some profit-booking, in which case the level of 11,520 may provide support. Stock in news: Welspun Corp, Cipla, Titan, Jindal Drilling and Industries, Inox Leisure, Tata Motors, EIH Associated Hotels, Mahindra and Mahindra, SRF.

As per early indications from the SGX Nifty, the Friday happy ending is likely to continue on the bourses. It is going to be a buoyant start to the new fiscal as, at the time of writing, the SGX Nifty was up by 51 points at 11,727. Traders will keep an eye on auto sales figures for the month of March, which will start coming in from today. Also, India’s infrastructure  output for the month of February and the external debt are scheduled to be announced today.

Bharat Heavy Electricals has given a downward sloping trendline breakout formed by connecting swing highs from October 2010, considering the weekly time frame. The breakout was supported by robust volumes. Additionally, the stock formed a sizeable bullish candle on breakout day, which adds strength to the breakout.

The stock of Delta Corp has formed a bearish engulfing candle after touching downward sloping trendline resistance and it coincides with the double top zone of Rs. 265.90 - 265.50 which suggests bears are taking control near the short-term resistance zone.

Marico Ltd was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout. The Bollinger Band squeeze occurs when volatility falls to low levels and the Bollinger Bands narrow. A volatility contraction or narrowing of the bands can foreshadow a significant advance or decline. 

Now the challenge is whether the Nifty will close above the parallel high of 11,572. If yes, the rally will continue with small dips. But only in the instance of a close below the March 25 low of 11,311 that the market will give bearish signals. As long as it closes above this level, every dip is a buying opportunity. Stock in news: Tata Steel, HDFC, Adani Ports, Union Bank of India, TCPL Packaging, Wipro, Bharat Financial Inclusion, EIH, Lupin, Wabco India, Tata Power.

After a scintillating rally on Thursday, the early action in the SGX Nifty suggests that on the last trading day of the fiscal year, Indian markets may take a breather in early trading. At the time of writing, the SGX Nifty was trading at 11,646, down by 23 points.

The zone of 11,550-11,572 is likely to act as a stiff resistance for the Nifty and any fresh and sustainable upmove is likely to emerge only as soon as this resistance zone is taken out. Till then, there is a possibility of Nifty once again consolidating with limited upside, while on the downside, the swing low of 11,311 is a crucial support for the bulls and a breach of this support would invite selling pressure. Stock in news: NELCO, DFM Foods, Welspun Corp, NBCC, M&M Financial, Godrej Agrovet.

Indian markets are expected to open a tad lower on Thursday as the global sentiments are weak. The US government's debt yields added to a steep decline in March as the yield on the closely monitored 10-year treasury note dipped to a 14-month low and the US yield curve is only exacerbating matters by inverting. However, there seems to be good news from the weather office as the IMD has predicted robust monsoon in 2019 provided there is no unexpected El Nino phenomenon. Volatility is likely to be elevated in today’s session on the back of March series derivatives expiry. At the time of writing, the SGX Nifty was trading lower by 35 points at 11,411.

Going ahead, the level of 11,510, followed by 11,570, will act as resistance levels, and on the flip side, the level of 11,390 is likely to act as a support level, followed by 11,311. Stock in news: GMR Infrastructure, Meghmani Organics, Persistent System, PNB, Unitech.

The outlook for the day is a flat start with a negative bias in early trading. There could be jitters as former RBI governor; Raghuram Rajan has expressed doubts on India’s ability to grow GDP at 7 per cent if sufficient jobs are not created. Also, he hinted at the confusing signals coming on the quality of data and suggests that the government must come clean on a single reliable source. At the time of writing, the SGX Nifty was trading down by 24 points at 11,500.

The stock of Balkrishna Industries bounced back sharply and formed a bullish engulfing candle after touching 20-day EMA and on the daily scale.

The stock had formed Evening Doji Star candlestick pattern on the daily time frame. It is a reversal candlestick pattern which is bearish in nature and appears at the end of an uptrend.

The stock has formed a doji candle on the weekly scale. A doji is formed when the opening price and closing price are equal. If the doji occurs alone, it is a signal that there is indecision and must not be ignored.

The stock had formed Dark Cloud Cover candlestick pattern on the daily scale. The Dark Cloud Cover is a bearish reversal candlestick pattern.

Britannia Industries was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The index has shown the first sign of weakness and formed bearish engulfing candle on the daily scale. The bearish engulfing candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

The stock of City Union Bank Limited has given a downward sloping trendline breakout on Friday formed by connecting swing highs from August 31, 2018.

The stock of Aditya Birla Group controlled entity, Hindalco Industries broke out of the downward channel decisively on Wednesday. The stock has been trading above its crucial short-term moving averages, i.e. 20 and 50-day moving averages.

Dewan Housing Finance Corporation Limited (DHFL) was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The stock of Trent Limited has given a breakout of ascending triangle pattern on the weekly scale along with strong volumes.

The stock of Karnataka Bank has given downward sloping trendline breakout on Monday along with strong volumes.

The stochastic oscillator is in an extreme overbought zone, which suggests the index may witness some consolidation before it makes any major upward move.

The stock of International Paper APPM Limited gave a downward sloping trendline breakout on Friday formed by connecting swing highs from September 10, 2018.

WTI Crude oil future is displaying a Rising Wedge kind of pattern in progression for the last nine weeks. Bearish confirmation of the pattern does not come until the support line is broken in a convincing fashion.

In the near-term, the zone of 26780-26680 is likely to act as crucial support for index as it is the confluence of 100-day EMA and upward sloping trendline formed by connecting swing lows from January 29, 2019.

The stock had formed doji candle on weekly scale. If the doji occurs alone, it is a signal that there is indecision and must not be ignored.

ITC Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

State-run Coal India formed a sizable bullish candle on the daily chart as on February 26, 2019 along with robust volumes, after making a base with parallel bottoms.

On daily time frame, the stock had formed bullish engulfing candle, which suggests bulls are taking control near long-term trendline.

The stock REC Limited forms opening bullish marubozu candle above horizontal trendline in the daily time frame, this suggests that the bulls were in the dominant position.

Last week, the stock had managed to give symmetrical triangle breakout along with relatively higher volume. Additionally, the stock had formed bullish candle on breakout week, which adds strength into the breakout.

Last week, crude oil prices closed above 4 weeks consolidation and formed bullish engulfing candle on week scale, which suggests bulls were in dominant position.

For any immediate decline, the zone of 26300-26400 is likely to act as crucial support for the index, as it is the confluence of double bottom and 200-day exponential moving average.

Bajaj Finance Limited forms opening bearish marubozu candle, on a weekly time frame. Bearish marubozu candle indicates extreme bearishness.

The momentum indicators suggest an overbought position, but a reversal is yet to be confirmed.

Bharat Financial Inclusion gets picked up by our Bollinger Band Squeeze scanner, suggesting that a consolidation breakout is expected in the near-term.

The stock of Jindal Steel & Power Ltd has given downward sloping trendline breakout on Tuesday along with strong volume.

After taking support near 50-week SMA, the stock bounces sharply and forms bullish engulfing candle on weekly scale, which suggests bulls were in dominant position.

Dabur India Limited has formed a Doji candle after forming a sizeable bullish candle in the weekly time frame.

The level of the index has reached near the resistance zone and the momentum indicators are in the overbought zone, but the reversal is yet to be confirmed.

On Tuesday, the stock has given breakout of downward sloping trendline along with robust volumes.

Considering daily time frame, near 100-day EMA the WTI Crude oil forms reversal shooting star candle on January 31, 2018, which suggests supply was located near 100-day EMA.

After the interim budget volatility is likely to increase, we may see some more depreciation at the rupee’s end.

The index after touching 200-day EMA bounces back and formed bullish candle on Thursday and also managed to open with upside gap on Friday, which indicates bulls are in a dominant position. This movement can be attributed to the budget's focus on farm and rural sector, and the fact that rural income is a major factor driving FMCG sales.

Ahead of Interim Budget 2019, Bank Nifty has formed sizeable bullish candle on Thursday and also managed to close above its important short term moving average, i.e. 20-day EMA and 50-day EMA, which suggest bulls were in dominant position.

The stock HDFC Bank Limited after touching 200-day EMA bounces sharply and formed bullish engulfing candle on daily time frame which indicates bulls were in a dominant position.

UPL Limited gets picked up by our Bollinger Band Squeeze scanner, suggesting that a consolidation breakout is expected in the near-term. A volatility contraction or narrowing of the bands can foreshadow a significant advance or decline in the stock.

Bank Nifty formed an outside bar resembling a Bearish Engulfing pattern on the weekly time frame, which indicates that the bears were in dominant position.

UltraTech Cement formed a sizeable bearish candle below the horizontal support level of Rs. 3,725, on Friday. The breakdown was supported by volume spurt, which suggest bears are in a dominating position. 

Havells India Limited gave a breakout of the symmetrical triangle along with robust volumes, on Tuesday. Additionally, the stock formed a sizeable bullish candle, which adds strength to the breakout.

India’s top, Asia's third-largest and one of the world's top decorative coating companies, Asian Paint will report its December quarter results today. Here is a sneak-peek to the stock's technical position.

The stock has formed a contracting triangle kind of a pattern and the volumes and price movements are getting squeezed.