Nifty 17469.75 (1.71%)
Sensex 58649.68 (1.76%)
Nifty Bank 37284.7 (1.82%)
Nifty IT 35959.05 (1.95%)
Nifty Financial Services 18284.95 (1.70%)
Adani Ports 761.40 (2.24%)
Asian Paints 3108.50 (2.58%)
Axis Bank 697.10 (1.47%)
B P C L 391.15 (0.86%)
Bajaj Auto 3332.05 (1.39%)
Bajaj Finance 7361.50 (3.64%)
Bajaj Finserv 17621.65 (3.00%)
Bharti Airtel 715.15 (2.33%)
Britannia Inds. 3575.75 (2.92%)
Cipla 897.95 (0.98%)
Coal India 150.90 (0.17%)
Divis Lab. 4604.95 (-0.43%)
Dr Reddys Labs 4570.70 (1.11%)
Eicher Motors 2505.55 (1.37%)
Grasim Inds 1716.25 (1.82%)
H D F C 2853.00 (1.26%)
HCL Technologies 1171.60 (1.91%)
HDFC Bank 1553.80 (1.84%)
HDFC Life Insur. 686.40 (-1.15%)
Hero Motocorp 2490.65 (1.17%)
Hind. Unilever 2340.60 (0.82%)
Hindalco Inds. 457.45 (3.38%)
I O C L 120.40 (-0.17%)
ICICI Bank 753.40 (2.55%)
IndusInd Bank 945.30 (2.01%)
Infosys 1753.35 (2.44%)
ITC 224.95 (1.95%)
JSW Steel 672.95 (1.86%)
Kotak Mah. Bank 1920.45 (-0.86%)
Larsen & Toubro 1825.05 (1.50%)
M & M 840.75 (1.79%)
Maruti Suzuki 7434.90 (3.46%)
Nestle India 19479.10 (0.70%)
NTPC 127.25 (1.52%)
O N G C 148.40 (1.71%)
Power Grid Corpn 204.80 (-0.49%)
Reliance Industr 2418.10 (1.52%)
SBI Life Insuran 1169.50 (0.89%)
Shree Cement 26106.90 (1.40%)
St Bk of India 491.55 (3.12%)
Sun Pharma.Inds. 757.55 (1.86%)
Tata Consumer 772.15 (1.51%)
Tata Motors 493.90 (2.51%)
Tata Steel 1173.00 (2.11%)
TCS 3626.90 (1.18%)
Tech Mahindra 1604.80 (1.79%)
Titan Company 2405.55 (1.05%)
UltraTech Cem. 7423.95 (1.71%)
UPL 728.10 (0.16%)
Wipro 641.70 (1.47%)
Chart Busters: Top trading set-ups to watch out for Monday
by 5paisa Research Team 01/11/2021

The benchmark index Nifty has lost 443 points or 2.44% in the last five trading sessions. The price action formed a sizeable bearish candle carrying lower high-lower low on the weekly chart. The weekly RSI has given bearish crossover and it is in falling mode. The next support for the index is placed at the 50-day EMA level, which is currently placed at the 17547.50 level.

Here are the top trading set-ups to watch out for Monday.

Ujjivan Financial Services: Considering the daily chart, the stock has given a 32-days consolidation breakout. This breakout was accompanied by a robust volume. The 50-days average volume was 15.88 lakh while today the stock has registered a total volume of 1.11 crore. Along with this consolidation breakout, the stock has also managed to close above its 20-day EMA and 50-day EMA. The 20 and 50-day EMA has started edging higher. The 100-day EMA has started losing its downward slope and started to flatten out. This portrays an encouraging picture.

The momentum indicators and oscillators are also supporting the overall bullish picture. The leading indicator, 14-period daily RSI has taken support near the 40 zone and surged above the 60 mark. This indicates a bullish range shift as per the RSI range shift rules. The weekly RSI has also given positive crossover and it is in rising mode.

Going ahead, in case the stock has sustains above the 100-day EMA level, then we may witness a sharp upside. The 200-day EMA will act as resistance for the stock, which is currently placed at Rs 200.90 level. On the downside, the 50-day EMA level will act as immediate support for the stock.

InterGlobe Aviation: The stock has formed a Dark Cloud Cover candlestick pattern as of September 22, 2021, and thereafter witnessed correction. On Friday, in the first 15-minutes, the stock has corrected sharply. During this correction, the stock has taken support near the prior breakout level and it coincides with the 100-day EMA level. From the days low, the stock has gained 17.57%. The price action has formed a sizeable bullish candle with a long lower shadow. The long lower shadow indicates buying interest at lower levels. The reversal from the support is confirmed by the above 50-day average volumes.

The stock has also surged above its 20-day EMA level. The 20-day EMA is in a rising trajectory. The leading indicator, 14-period daily RSI surged above the 60 mark for the first time after 22 trading sessions. The MACD histogram is suggesting a pickup in upside momentum. Moreover, a positive divergence is clearly visible between the daily RSI, daily stochastic and the stock price movement, which suggests a limited downside. Positive divergence occurs when the price is making a lower low, while the indicator forms a higher low.

Considering the robust technical structure of the stock we believe it is likely to touch new highs. On the upside, the prior swing high of Rs 2307 will act as resistance for the stock. While on the downside, the 50-day EMA will act as support for the stock. The 50-day EMA is currently placed at Rs 1969.30 level.

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