Nifty Spot as well as Nifty Nov fut today, have made a bullish hammer candlestick on the daily charts. After such a sharp downward rally, I believe this hammer suggests that the bulls were able to reject the bears completely plus the bulls were able to push prices even more past the opening price.
Individually, almost all the contituents of Nifty look extremely positive. However, the few stocks that I would be biased to, in the coming trading sessions, are Allahabad Bank, Divislab and Oriental Bank. 3, 8 n 13 alongwith 5 n 20 EMA on daily charts have given a positive crossover in these stocks. This apart, these positive divergences are even more potent because the EMAs have also intersected the price of these stocks.
It sure seems like "happy days are here again" !! Not only one can trade with a positive bias in the coming sessions, also, accumulate stocks for short-term gains.
Signing off on a positive note... Happy Trading !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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