Some counters which have underperformed the market amid this rally

Bank of Baroda (BANKBARODA): With a decent close above the 200-DMA, this counter is set to rise further towards Rs 60 and Rs 65 levels. The stock may see a firm strength and intensity to climb higher levels. The volume is gradually increasing exhibiting stable interest of market participants.

Punjab National Bank (PNB): This counter is attempting to cross 200-DMA at Rs 33.45 levels. This resistance needs to be conquered with strong volumes to exhibit a firm trend. The support comes in at Rs 31.20 levels, which is its 100-DMA. The RSI has entered the overbought condition indicating profit-booking and selling pressure, which is a sign of concern.

Coal India Ltd (COAL INDIA): The weekly chart shows the trendline resistance at Rs 134, which the counter needs to cross firmly to gain positive sentiment. The RSI needs to cross the resistance of Rs 53 to regain the buying strength, as per the weekly chart. The 200-DMA falls at Rs 126.50 level, which is also another hurdle for the stock.

Indian Oil Corporation Ltd (IOC): The formation of the “Double Bottom” pattern can be seen on the weekly chart. This has a neckline breakout around Rs 97 levels. It did manage to cross 200-DMA at Rs 85, but acquiring the follow-up buying has become a challenge for this stock. The overall trend is positive, till it defends the support of Rs 82 level.