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Steel Authority of India has extended uptrend for fourth consecutive session with strong volumes. The stock formed long bullish candlestick pattern on the daily scale, while trading above all key moving averages.
Over next few months IT sector will be in focus and can take leadership role for up move, says Ashish Kyal.
BSE formed bullish candlestick pattern with long upper shadow on the daily timeframe & robust volumes, which is a positive sign. The stock continued uptrend for fourth consecutive session and traded well above all key moving averages (20, 50, 100 and 200-day EMA).
Sunteck Realty maintained upward journey for fifth consecutive session, rising more than 5 percent to Rs 378, the highest closing levels since December 8 last year and formed long bullish candlestick pattern on the daily charts, with above average volumes.
At the current juncture, the price action in Container Corporation of India is above William alligator (trend following indicator) which is echoing towards further upside in the counter.