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Niftyit

NIFTY IT (sector breakout) The IT sectorial index is about to give breakout after a consolidation of 3 years, it will be a multiyear breakout. Try finding IT stocks which are looking good on charts. Start part buying in IT stocks, one can look into ITBEES for safe investment. I feel the rally may be seen till September which is the month US elections. Proper risk management and portfolio allocation are the key points which should be considered as the Indian Markets are at All Time High. This is not a recommendation on buy/sell. Please consult your financial advisor before any investment.
NSE:CNXITLong
by Vallabh69
Nifty Short, Medium & Long Term view 1Jul-24 to Jul-24Nifty Short, Medium & Long Term view 1Jul-24 to Jul-24 Nifty closed at 23010 (23501) and touched low & high of 23351-24170 Post Election and govt formation market sustained above k5ey resistance at for two weeks after a dip to 21286. RSI and stochastics levels was marginally down last week (68.5 % & 90% Respectively). Stochastic still in overbought levels. Retain the statement for almost a month, Market need to cross 24150 as two trend line resistance ( Shown in the Chart), one with low risk can book partial profit and can wait for market to correct to reinvest. Market depends on the new budget and Q1 results expected in Jul 24. Market have high potential to touch Psychological 25000 Mark. Nifty 24010- Short term (Neutral ) Nifty have resistance at 24280/ support around 22600. Nifty at PE 22.9 crossed 3 year historical average 22.5 hence to be cautious. Short term support 22600( trendline), 22200 ( Trend Line) and 21700 Trend line Support as shown in the chart. Medium term resistance 24280 ( Trendline and % of difference between Mar 23 low and Sep 23 high low from Sep23 high shown as vertical line) medium term Support - 22000 Long Term Nifty have strong resistance at 25000 ( Trend Line). If market close above 24150 decisively. Support at 20800 ( Fib Support) 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). All Companies so far posted average results other than Bank & Finance stocks which posted Good results thats why it is evident Nifty Bank have grown better than Nifty, Nifty IT and Nifty Auto in last 2 months. Nifty bank 52342 (51661)- As proposed from 47250 level nifty bank jumped more than 10%. Caution to be emphasised as nifty bank reached critical resistance. It need to cross and move up decisively this current zone. Slowly Can consider to book partial profits in Nifty Bank on every rise. Investment decision in Nifty bank, bank stocks helped in portfolio. Stock Picking is needed at this crucial nifty, Nifty Bank, Nifty auto, Nifty Pharma stocks. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank ,ICICI Bank, HDFC Bank, SBI ( Buy on dip) and Indus Ind Bank ( Buy on dip). Following Finance Stocks can be added as it posted good results are Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Coforge & persistent Sys can add these stocks to portfolio. There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Comments : Post Elections, if Market need to grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5% ( in span of 2-3 years ). US fed rate reduction also expected from Aug/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT 36157 (35086), indices broke the Major support at 33350 and went down upto 32420. Tech stocks revived in last two trading session. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 35786 ( Fib) to reach 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term view 24-Jun-24 to 28-Jun-24Nifty Short, Medium & Long Term view 24-Jun-24 to 28-Jun-24 Nifty closed at 23501 (23465) and touched low & high of 23417 & 23660 Post Election and govt formation market sustained above key resistance at 23250-23300 for two weeks after a dip to 21286. RSI and stochastics levels was marginally down last week (60 % & 91% Respectively). Stochastic still in overbought levels. Retain the statement for third week, Market need to cross 23900-24100 as two trend line resistance ( Shown in the Chart between 23900 and 24100), if not can book partial profit and can wait for market to correct as there is a strong resistance in that zone. Nifty 23501- Short term (Neutral ) Nifty might move up and It may touch 23900. Nifty still have resistance / support around 22600. Nifty at PE 22.3 near to 3 year historical average 22.5 hence to be cautious. Short term support 22600( trendline), 22200 ( Trend Line) and 21700 Trend line Support as shown in the chart. Medium term resistance 24000/24100 ( Trendline) medium term Support - 21300 Long Term Market expected range bound between 24000 ( Trend Line Resistance till Jun 2024) & Support at 20800 ( Fib Support) 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Nifty also have resistance at 25000 ( Trend Line). If market close above 24000 decisively. All Companies so far posted average results other than Bank & Finance stocks which posted Good results thats why it is evident Nifty Bank have grown better than Nifty, Nifty IT and Nifty Auto in last 2 months. Nifty bank 51955 (50000)- As proposed from 47250 level nifty bank jumped near to 10%. Caution to be emphasised as nifty bank reached critical resistance. It need to cross and move up decisively this current zone. Slowly Can consider to book partial profits in Nifty Bank on every rise. Investment decision in Nifty bank, bank stocks helped in portfolio. Stock Picking is needed at this crucial nifty, Nifty Bank, Nifty auto, Nifty Pharma stocks. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank ,ICICI Bank, HDFC Bank, SBI ( Buy on dip) and Indus Ind Bank ( Buy on dip). Following Finance Stocks can be added as it posted good results are Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Coforge & persistent Sys can add these stocks to portfolio. There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Comments : Post Elections, if Market need to grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5% ( in span of 2-3 years ). US fed rate reduction also expected from Aug/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT 35200 (34598), indices broke the Major support at 33350 and went down upto 32420. Tech stocks revived in last two trading session. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 35786 ( Fib) to reach 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks.
NSE:NIFTY
by karthikss
TCS: Thy turkey is done? 🕒- The Age of the Indian IT sector seems to be coming back, with NASDAQ:NDX gaining new momentum. - This week was a good one for TCS - It finally closed above its crucial resistance zone and the 3500 Mark - It also broke the symmetric triangle formation, paving the way for future momentum. -The next week will be crucial as the price spikes will sink in. The sustenance of the price will be crucial. - We may witness some pullback/consolidation. A retest and continuation will only make the move stronger. - If the price sustains, We may see a good 4000 level. Caution: When the bull runs, everything seems lucrative. Being cautious always pays well. Remember, you will be buying the top. If it helped, Do Leave us a boost 🚀. What is your take on it? Feel free to comment. Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
NSE:TCSLong
by TheChartereds
AFFLE: Descending Triangle 📉😲 Okay, This one was requested by @sanketkumbhar88 : Here is all you need to know about NSE:AFFLE : - Affle has been in a volatile 400-point range since 2021 - Currently, It is forming a Descending Triangle formation taking exact rejections from the resistance trendline - We have a game zone to confuse investors - The 1000 psychological mark doesn't seem to impact the price much. That happens when a price is tested multiple times in a consolidation zone. - On a technical note, the Price will gain momentum only when the structure is broken. - Once the bullish break of the triangle is achieved, We may either see a good move up to the resistance zone (Post which the then price action will decide what's what) or we may continue with the sideways momentum unless the resistance zone is broken. - Liking the analysis? How about a Boost to help us reach many likeminded investors like you :) - On the other hand, If we see a bearish breakdown, The next immediate support is about 15% lower i.e the 730 - 760 price levels - The price is about to test the 200 EMA - RSI Divergence on Daily TF adds to the negatives - MACD recently made a bearish crossover, Another negative - Being an IT Sector company, Connecting it to the Nifty IT: It is a wait and watch game for now. What should we analyze next? Have Requests, Questions, or Suggestions? DM us or comment below.👇 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:AFFLE
by TheChartereds
3
Nifty Short, Medium, Long Term 28-May-24 to 31-May-24Nifty Short, Medium, Long Term 28-May-24 to 31-May-24 Nifty closed at 22932 (22466) and touched low & high of 22409 & 23022 RSI and stochastics levels was up from last week (66 % & 86% Respectively). Stochastic in over bought levels (>90%) on 26-May-24 and started reducing on 27-May-24 Anticipation in Political results lifted the market as exit poll started coming. As mentioned in the past 1.5 month, Post govt budget, current govt proposed 100 days plan will lead the market in coming days. Investment decision is mixed as market will be highly volatile due to the above factors. Hence those people have high risk can sell partial stocks and book profit, those have more money to invest can wait for small dips to invest. As far as my opinion, if market touching 24000 can book partial profit and can wait for market to correct as there is a strong resistance in that zone. Nifty 22932- Short & medium term (Neutral ) nifty reached the near term target 22819 (Fibonacci extended resistance target) again and crossed resistance decisively. Nifty at PE 21.5 below the Historical Average of 22.5 Short term support 22300-22400 Short Term Resistance : 23150 ( Trend Line as shown in chart) Medium term Support - 22160 ( Trend Line) and 20830 Fib Support as shown in the chart. Long Term Market expected range bound between 24000 ( Trend Line Resistance till Jun 2024) & Support at 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). All Companies so far posted results are average other than Bank & Finance stocks which posted Good results, IT posted muted growth, Maruti posted good results, Reliance, Ultratech posted good growth. Other manufacturing, capital goods companies results are awaited in coming weeks. Nifty bank 49456 (48199) - As proposed from 47250 level nifty bank jumped more than 7%. Investment decision in Nifty bank, bank stocks helped in portfolio. Still can continue to invest whenever dip in bank and other nbfc stocks. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bank of Maharasthra ( Buy on Dips) ,Canara bank( Buy on Dips) can be accumulated slowly as well. Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Apollo tyres, Biocon, Coforge & persistent Sys can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quantities till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 33350 and went down upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.ifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 every dip of individual stocks (2-5% of portfolio on each purchase for long term)As mentioned in the past 1.5 month, nifty reached the near term target 22819 (Fibonacci extended resistance target) again and crossed the resistance decisively and touched 23000. Nifty at PE 21.8 below the 3 year Historical Average of 22.5.. Short term support 22312 (MA 50)- Nifty last week had a pause between 2220-22300/ 22050 ( Trend Line Support as shown) /21800 Medium term Support - 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 24000 ( Trend Line Resistance till Jun 2024) & Support at 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). All Companies so far posted results are average other than Bank & Finance stocks which posted Good results, IT posted muted growth, Maruti posted good results, Reliance, Ultratech posted good growth. Other manufacturing, capital goods companies results are awaited in coming weeks. Nifty bank 48199(47421) - Nifty bank tested trend line support 47000 last week and later part of the week. Many bank & Finance stocks are buyable zone. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bank of Maharasthra ( Buy on Dips) ,Canara bank( Buy on Dips) can be accumulated slowly as well. Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Apollo tyres, Biocon, Coforge & persistent Sys can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quantities till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 33350 and went down upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.ifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 every dip of individual stocks (2-5% of portfolio on each purchase for long term)
NSE:NIFTY
by karthikss
Nifty Short, Medium, Long Term 20-May-24 to 24-May-24Nifty Short, Medium, Long Term 20-May-24 to 24-May-24 Nifty closed at 22502 (22055) and touched low & high of 21836 & 22514 Nifty was up from the support level. RSI and stochastics levels was up from last week (56 % & 69% Respectively). Both are moving up towards oversold zone. Nifty 22502- Short & medium term (Neutral till it cross 22820 decisively) As mentioned in the past 1.5 month, nifty reached the near term target 22819 (Fibonacci extended resistance target) again, formed a 'W' pattern. ( 22819 Target- which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000 which need be crossed decisively. Nifty at PE 21.5 below the Historical Average of 22.5, only Political results is awaited which will give a clear direction. Short term support 22312 (MA 50)- Nifty last week had a pause between 2220-22300/ 22050 ( Trend Line Support as shown) /21800 Medium term Support - 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 24000 ( Trend Line Resistance till Jun 2024) & Support at 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). All Companies so far posted results are average other than Bank & Finance stocks which posted Good results, IT posted muted growth, Maruti posted good results, Reliance, Ultratech posted good growth. Other manufacturing, capital goods companies results are awaited in coming weeks. Nifty bank 48199(47421) - Nifty bank tested trend line support 47000 last week and later part of the week. Many bank & Finance stocks are buyable zone. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bank of Maharasthra ( Buy on Dips) ,Canara bank( Buy on Dips) can be accumulated slowly as well. Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Apollo tyres, Biocon, Coforge & persistent Sys can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quantities till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 33350 and went down upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.ifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 every dip of individual stocks (2-5% of portfolio on each purchase for long term)
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term View- 13-May-24 to 17-May-24Nifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 Nifty closed at 22055(22440) and touched low & high of 21935 & 22585 Nifty was up from the support level and was trading inside the range (22000-22800) provided last month. However broke the support and touched down 21935. RSI and stochastics levels was up from last week(41.45 % & 13% Respectively). Both are near to oversold zone. All Companies so far posted results are average other than Bank & Finance stocks which posted Good results, IT posted muted growth, Maruti posted good results, Reliance, Ultratech posted good growth. Other manufacturing, capital goods companies results are awaited in coming weeks. Nifty bank 47421(48896) - Nifty bank was up marginally inline with nifty last week. Many bank & Finance stocks are buyable zone. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bank of Maharasthra ( Buy on Dips) ,Canara bank( Buy on Dips) can be accumulated slowly as well. Apart from that Motilal Fin, Chola Finance, ICICI Securities, Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, suryoday small fin. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Apollo tyres, Biocon, Coforge & persistent Sys can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Nifty 224055- Short & medium term (Neutral) Nifty have resistance at 22350 ( MA 50). As mentioned in the past month, nifty almost reached the near term target 22819 two weeks before (Fibonacci extended resistance target) and started falling ( 22819 Target- which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000 which cant be crossed decisively. Short term support 22230 (MA 50)/22000/21800 Medium term Support - 21721 (Mar Low),21500 (Fib & Trend Line Support),21180, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quanties till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 32935. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.ifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 every dip of individual stocks (2-5% of portfolio on each purchase for long term) Nifty 22419- Short & medium term (Neutral) As insisted in the last month, Market need to decisively close above 22800 to move up further. As expected last week for come back rally market went up.As mentioned in the past month, nifty almost reached the near term target 22819 two weeks before (Fibonacci extended resistance target) and started falling ( 22819 Target- which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000 and again trying to cross it. Short term support 22230 (MA 50)/22000/21800 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quanties till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 34918 /34000 two weeks before and went upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend. Nifty closed at 22055(22440) and touched low & high of 21935 & 22585 Nifty was up from the support level and was trading inside the range (22000-22800) provided last month. However broke the support and touched down 21935.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term View- 15-Apr-24 to 19-Apr-24Nifty Short, Medium & Long Term View- 15-Apr-24 to 19-Apr-24 Nifty closed at 22519 (22513) and touched low & high of 22435 & 22782 Nifty touched new high last week and reduced 1 % due to global cues on last day. Global tension caused mild drop in last working day of market. Depends the situation market will react next week. Expecting a mild fall till 22000 and may raise afterwards. RSI and stochastics levels was marginally down last week(57% & 71% Respectively). Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35018(35250) - Nifty IT marginally decreased last three weeks. To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 48565 (48535) - As expected Nifty Bank increased in the last month gaining near to 6.5%. Nifty touched the near time target provided at 48618 & touched new high of 49063. Medium term support is at 44598 if breaks major support at 43650 ( Fib Support). To continue buy on dips. Nifty 22519- Short & medium term (Neutral) Nifty moved up in the last week touched new high 22782. As mentioned in the past month, nifty almost reached the near term target 22819 (Fibonacci extended resistance ( target) iwhich is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000. Short term support 22000/21900 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank in nearing the target provided (48600). Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term View- 08-Apr-24 to 12-Apr-24Nifty Short, Medium & Long Term View- 08-Apr-24 to 12-Apr-24 Nifty closed at 22513 (22335 ) and touched low & high of 22335 & 22606 Nifty Still undecisive need to cross all time high firmly. RSI and stochastics levels was up and retaining same position like prev week(61% & 86% Respectively). Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35250(35042) - Nifty IT marginally decreased last two weeks. To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 48535 (47118) - As expected Nifty Bank increased in the last 3 weeks gaining near to 5% . It is nearing the initial Target 48618 (All time high). support is at 44598 if breaks major support at 43650 ( Fib Support). To continue buy on dips. Nifty 22513- Short & medium term (Neutral) Nifty moved up in the last week touched new high 22618. As mentioned for the past three weeks, nifty next target 22819 (Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000. Short term support 22000/21900 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank in nearing the target provided (48600). Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View- 26-Mar-24 to 29-Mar-24Nifty Short , Medium & Long Term View- 26-Mar-24 to 29-Mar-24 Nifty closed at 22096 (22023) and touched low & high of 21710 & 22175 RSI and stochastics levels have improved last week (51% & 47% Respectively). Market closed almost flat last week Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35188 (37517) -To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 46863 (46591) -To continue buy on dips. Nifty Bank last week dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Nifty 22096- Short & medium term (Neutral) Nifty still in undecisive state at present and will be rangebound. As mentioned for the past three weeks, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 21900, 21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue post election without any additional support of other parties so that govt can be confident enough to take decisions. Election outcome analysis i have prepared is available in website in my profile and my X account karthik_ss Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View- 19-Mar-24 to 22-Mar-24Nifty Short , Medium & Long Term View- 19-Mar-24 to 22-Mar-24 Nifty closed at 22023(22493) and touched low & high of 21905 & 22524 RSI and stochastics levels are same in this week (47% & 21% Respectively). Stochastics is in oversold zone. Market touched a new high last week Monday 22524. RBI issued warning on excessive rally on Mid & Small Cap to control liquidity. Hence Mid & Small Cap corrected last week. Market waiting for to take clear position (to go up or down). Market closed almost flat on first day of this week i.e 18-Mar-24. Nifty IT 37517 (37099) -To continue hold. Nifty IT touched new high of 38550 20 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 46591 (47853) -To continue buy on dips. Nifty Bank last week dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Nifty Bank last week high was 47864 and dipped to low to 46316. Refer to detailed comments in the bottom. Nifty 22023- Short & medium term (Neutral) Nifty is undecisive state at present and will be rangebound. As mentioned for the past three weeks, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 21900, 21554 (Fib Support),20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
NIFTY | BANKNIFTY | NITY IT | SWING TRADING STOCKSIn this video I have analyze few important indices. Nifty, BankNifty and Nifty IT. Also, in the end i have mentioned two swing trading stocks. Nifty I find Nifty is bullish. The previous support is still intact. BankNifty I find BankNifty bearish, and can see a fall in BankNifty. One thing to notice is, Nifty and BankNifty are not working is similar way. Both indices are performing the different way. Nifty IT This is the best sector right now. One should look for Nifty IT stocks for good positional entry. Two swing trading stocks mentioned in the last 1. LTTS 2. CIGNITITEC
NSE:CIGNITITECLong
by NikunjBangad
Nifty Short , Medium & Long Term View- 11-Mar-24 to 15-Mar-24Nifty Short , Medium & Long Term View- 11-Mar-24 to 15-Mar-24 Nifty closed at 22493(22378) and touched low & high of 22224 & 22522 RSI and stochastics levels are same in this week (65% & 96% Respectively). Stochastics is in overbought zone. Market touched a new high on last short trading session on Saturday to 22522, which crossed the Fib resistance and trend line resistance near to 22350. RBI issued warning on excessive rally on Mid & Small Cap to control liquidity. Hence extreme caution need to be applied. Nifty IT 37099 (37593 ) -To continue hold. Nifty IT touched new high of 38550 15 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 47853 (47297) -To continue buy on dips. Nifty Bank touched 48160 high last week and dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22493- Short Term (Up) & medium term (Neutral) As mentioned in for the past two week, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 22116 (MA 21), 21554 (Fib Support ),20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
It Index looks delicately poised. (Educational Post)For last few weeks we have been looking at indices. By the study of a particular index we then try to determine about investing in components of that index or the stocks that from that particular index. In the series we will today have a look at IT Index. IT Index is looking very interestingly poised currently. There is a Doji of indecision formed. As of now the bias of this Doji or shadow of the candle looks a little positive. If the index can give a closing above 37345, there is a chance that there can be an upside upto 37892, 38279 or even 38594. In case the levels of 36711 or 36098 are broken there could be drastic fall in the stocks which form this index as the potential fall can lead index to the levels of 35675, 35094 or 34287. Keeping this information in mind you can look at individual charts of stocks like TCS, Tech Mahindra, Wipro, LTTS, Persistent, Infosys, Coforge, Mphasis, HCL Tech, LTIM. For understanding which companies to invest in amongst the bunch of IT pack leaders you will have to study Technicals and Fundamentals of each of the company individually. Thus through various models you can try to determine tops of current rally or trend. You can reverse the process and try find of the probable bottom in case of downturn. Trend lines / Peaks / Valleys and Fibonacci levels will also give you probable supports and resistances in the path. You can become an expert by studying and drawing and reading charts every day. The more you practice the better accuracy you can achieve. Disclaimer: Investment in stocks and mutual funds is subject to market risks, please consult your investment advisor before taking financial decisions. The data provided above is for the purpose of analysis and is purely educational in nature. The names of the stocks or index levels of spot Nifty mentioned in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:CNXIT
by Happy_Candles_Investment
Nifty Short , Medium & Long Term View- 04-Mar-24 to 08-Mar-24Nifty Short , Medium & Long Term View- 04-Mar-24 to 08-Mar-24 Nifty closed at 22378 (22212) and touched low & high of 21860 & 22297 RSI and stochastics levels reduced this week (63% & 97% Respectively). Stochastics is in overbought zone. Market touched a new high on last short trading session on Saturday to 22416, which crossed the Fib resistance and trend line resistance 22350 and closed at 22378. Nifty IT 37593 (38045 ) -To continue hold. Nifty IT touched new high of 38477 10 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 47297 (46554) -To continue buy on dips. Nifty Bank touched 47424 high last week. Target 48618 ( all time high). Crossed the previous resistance and now can expect to move up. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22378- Short Term ( UP) & medium term ( Neutral ) As mentioned in last week Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Short term Support - 21554 (Fib Support ), 20877 Fib Support as shown in the chart. Medium Support at 20225 (prev high), 20000 ( Fib Resistance) Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up. Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Political anticipated result expectation, Global trend sustaining the market above 22000. only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium& Long Term View-26-Feb-24 to 01-Mar-24Nifty Short , Medium & Long Term View-26-Feb-24 to 01-Mar-24 Nifty closed at 22212 (22040) and touched low & high of 21824 & 22297 RSI and stochastics levels reduced this week (90% & 90% Respectively). Both Rsi & Stochastics is in overbought zone. Volatality was seen on Thursday with more than 400 points. Market crossed 22150 last week. Need to decisively close above all time high 22294/22314 (Fib Resistance). Earlier 30-35% profit booking was suggested (except Bank & IT stocks). Partial Booking can be considered for further 5-10% wherever valuation are high. There is no worry on Good Valued Stocks which can be kept for Long Term. This cash will be useful to buy when during the fall. Nifty IT 38045 (38477 ) -To continue hold. Nifty IT touched new high of 38477 last week. Major support at 34918 /34000. Target can be 40000. Nifty bank 46554 ( Prev Week 45634 ) -To continue buy on dips. Nifty Bank touched 47350 high last week. Target 48618 ( all time high) support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22212- Short Term ( Neutral ) All time high 22294/ 22314 (Fib Resistance) will be a key resistance. Support - 21554 (Fib Support ), 20877 Fib Support as shown in the chart. Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up. Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22800 to 18800 expected till mid of 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-19-Feb-24 to 23-Feb-24Nifty Short , Medium & Long Term View-19-Feb-24 to 23-Feb-24 Nifty closed at 22040 (Last week 21540) and touched low & high of 21629 & 22068 RSI and stochastics levels reduced this week(58% & 87% Respectively). Stochastics is in overbought zone. Huge volatility was seen last week within the topmost resistance and bottom most support last week. Market was exactly trading within this trend line resistance and trendline support provided. Market need to decisively close above all time high 22117 and 22157 (Fib Resistance). Earlier 30% profit booking was suggested (except Bank & IT stocks). Partial Booking can be considered for further 5-10% in Mid & Small Cap (Stocks/ Mutual Funds) wherever valuation are high. There is no worry on Good Valued Stocks which can be kept for Long Term. This cash will be useful to buy when during the fall. Nifty IT 38477 (Prev Week 37699) -To continue hold. Nifty IT touched new high of 38477 in this week. Major support at 34918 /34000. Target can be 40000. Nifty bank 46554 ( Prev Week 45634 ) -To continue hold. Nifty Bank touched 46695 high last week. Purchase on dips was suggested. Nifty Bank moved from 44673 to 46695. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22040- Short Term ( Neutral ) All time high 22136 will be a key resistance. Market could not surpass it decisively. Hence bearish sideways movement expected for some more weeks. Resistances are at 22000, 22117, 22136 ( All time high),22150 Support - 21430 (Fib Support & MA 50 Support), 20877 Fib Support and trend line support as shown in the chart. Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up. Target Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 (Fib Resistance)/22521. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22500 to 18800 expected till mid of 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments (19-Feb-24) : Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss