Nifty
closed with strong bullish move amid RBI Rate Cut. Banking and Finance Sectors
on Fire.
Last
week nifty faced major resistance at 25000 levels and it fell sharply from
those levels to 24600 as we said in the last article but finally on Friday amid
RBI rate cut decision as RBI once again slashed 50 basis points in the interest
rates, markets reacted strongly and nifty finally closed above 25000 levels on
Friday. Banknifty and Finance Companies like Bajaj Finance, Shriram Finance
also showed a big bullish move amid this news.
We
can see this strong rally in the next week also if nifty manages to close above
25200 levels in the next week then we can see nifty towards 25500 and 25800
levels soon. Banknifty closed above 56500 levels which is its fresh lifetime
high. Banknifty may show 57000 and 57500.
One
should have a strong bullish view for markets in the next week. Nifty and
banknifty both are in strong bullish moves. Major support levels for nifty is
24600, till it sustains above these levels it would be strong but of it closes
below that we may see a sharp fall in the markets.
Important Levels for Nifty Next Week
Major Support Levels for Nifty
Support 1 – 24800
Support 2 – 24600
Support 3 – 24250
Major Resistance Levels for Nifty
Resistance 1 – 25200
Resistance 2 – 25450
Resistance 3 – 25700
Important Levels for Banknifty Next Week
Major Support Levels for Banknifty
Support 1 – 55800
Support 2 – 55200
Support 3 – 54800
Major Resistance Levels for Banknifty
Resistance 1 – 56900
Resistance 2 – 57400
Resistance 3 – 57900
Important Stocks to Watch Next Week
1)
AMBUJACEM
CMP @ 556
Buy Above @ 565
Stop Loss Below @ 540
Targets @ 580, 600 and 625
2) AXISBANK
CMP @ 1195
Buy Above @ 1210
Stop Loss @ 1120
Targets @ 1280, 1340 and 1380
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