However, by noon, the Nifty had left all its benefits and slid into a negative zone, forming the low point of his day. The rest of the session was spent in a very narrow series. Headline index closed with a small benefit of 12.50 points (+0.05)
While markets continue to integrate at the current level, some protective plays are clear. This FMCG Major is slowly higher; It is expected to expand its current consumption in the coming days.

ITC Limited (ITC) faced a sharp corrective move after the stock was traded in the November and February range of last year. He made a strong effort to rely by the end of February; Since then, it has been slowly tending to. Currently, he trades above two of his three key moving average. In addition, it has a 20-time MA. It has also been closed.
The daily MACD is booming and its signal is above line. The RSI is also neutral and does not show any disruption to the price. The bounce that leads the stock cross above 20-DMA to the volume is higher than the average.
The RS line is trending on the side indicating stock trading along with widespread markets. It is above its 50-time period.
Within RRG’s legging quadrant, when the stock is seen improving its relative pace. To sustain the expansion of current consumption and ITC will get Rs. 445. 422 must be used as a stop-loss for this trade.
Milan is Vaishnav, CMT, MSTA, Technical Analyst.
Indian Oil Corporation Limited
This large-cap oil refinery stock broke out with horizontal trendline resistance. This can stimulate potential consumption near 6%in the stock, and this makes it attractive to enter the current levels with a favorable risk-pure ratio.

Soon after forming a triple-top, Rs. In September last year, the stock price of Indian Oil Corporation Limited (IOC) saw a correctional decline. The downtrend continued until it was Rs. 110 showed signs of the rebound in March this year.
When moving the high, the stock went above the 50-day and 100-day, showing that the intermediate trend has turned into a boom.
Recently, the stock went out of horizontal trendline resistance, inviting shopping opportunities.
This price is supported by increasing volume, supporting the boom.
Relative strength index (RSI), a lead indicator, observe the variation of the boom. The price was formed in the lower bottom in March, but the RSI formed a high low, adding more boom to the stock.
PSAR lives in bye mode.
Thus. Rs. 137 should be considered to go out of stock.
CMT, forum rod is a technical research analyst.
(Now you can subscribe to our Etmarkets WhatsApp channel)