Bonanza Portfolio highlights that Nifty 50 on the daily time frame is trading near the upper band of the rising channel pattern and currently facing a stiff resistance of its overhead trend line which is placed near 15450 levels. Check below the ratings allotted to Hindustan Unilever, DMART and L&T Finance Holdings.

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NIFTY50 on 17th Feb witnessed a minor gap down opening and traded in a narrow range for the first initial hours and later on price slip below 15250 levels and continued its lower low formation on the smaller degree chart (15 mins).

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Currently, INDIA VIX is reading within the narrow range of 20.50 -22.50 on the daily chart. Meanwhile, INDIAVIX continues to settle below its 21-day exponential moving average which indicates volatility is losing its grip.

Higher high higher bottom formation continues in the BANK NIFTY where prices registered their lifetime high levels of 37708. Momentum oscillator RSI (14) of the Bank Nifty has flattened out near 75 levels (overbought zone) in the weekly time frame.

Going forward, the trend in Nifty is likely to remain sideways or we can expect some profit booking till 14900 levels. The higher-end break of 15450 will open the gate for 15650 levels in the coming trading sessions.

Hindustan Unilever: SELL at CMP of Rs 2164 with Target of Rs 2050 and Stop Loss of Rs 2235

For the previous couple of months, stock prices were trading in a lower low lower high formation on the daily time frame. Price has witnessed a smaller degree triangle pattern breakdown on the daily interval. The counter is trading below its 21, 50 & 100-day exponential moving averages on a daily scale. Momentum oscillator RSI (14) is reading below 45 levels with bearish crossover and looking to drift lower below 30 levels. Hindustan Unilever share price today is trading flat today at Rs 2164.

DMART: BUY at CMP of Rs 3190 and Target of Rs 3430 and Stop Loss of Rs 3050

On 17th Feb, the stock prices finally managed to surpass the resistance zones around Rs 3140 - 3170 levels, which eventually confirmed a trend line breakout on the weekly interval. The recent leg of strong up-move is also supported by strong volumes and it also resembles a strong consolidation breakout. From the last four odd months the counter is trading in a higher bottom higher high formation. Prices are trading above their exponential moving averages (50 & 100) on the weekly chart. Dmart share price today is trading at Rs 3155, down Rs 35 or 1%.

L&T Finance Holdings: BUY at CMP of Rs 98 with Target of RS 109 and Stop Loss of Rs 92

Prices have witnessed a Falling channel pattern breakout on the weekly time frame and currently trading above the trend line support. The stock has found support near 23.60 percent Fibonacci retracement which is placed at 87.20 from its previous march months low on the weekly interval. A recent minor retracement has found support near a 50-day exponential moving average and currently, the price is trading above its 50 & 21-day EMA which is positive for the counter in the near term. L&T Finance share price today is Rs 99.15, up Rs 1.35 or 1.4%