CFA Hitesh Somani
MD - Aapka Investments
Website - https://www.aapkainvestments.in
MARKETS TRADED ALMOST FLAT IN THE LAST WEEK. WILL THIS WEEK MARKET FIND THE TREND?
Last
week we saw nifty with intraday moves but overall market on the weekly basis
was flat. Nifty last week close was 25637 while on this Friday close that
25461. Which is almost 150 points negative from previous week which shows that
big investor book some of the profit at the higher level.in the coming week we
can expect some big moves on either side if nifty closes above 25650 then we
can see nifty towards 26000 levels and if it breaks below 25200 levels, we can
expect the sharp fall towards 24700 levels.
Banknifty in the last week was comparatively stronger than nifty as hdfc bank broke the big level of 2000.If in the coming week hdfc bank manages to close above 2100 then we may expect banknifty towards a new lifetime high.
Important Levels for Nifty Next Week
- Support 1 – 25400
- Support 2 – 25000
- Support 3 – 24700
- Major Resistance Levels for Nifty
- Resistance 1 – 25600
- Resistance 2 – 26000
- Resistance 3 – 26400
Important Levels for Banknifty Next Week
- Major Support Levels for Banknifty
- Support 1 – 56600
- Support 2 – 55800
- Support 3 – 55100
- Major Resistance Levels for Banknifty
- Resistance 1 – 57200
- Resistance 2 – 57600
- Resistance 3 – 58200
Important Stocks to Watch Next Week
1) NAUKRI
Buy Above @ 1490
Stop Loss @ 1445
CMP
@c4990
Buy Above 5021
Stop Loss @ 4850
Targets @ 5200, 5400 and 5600
3) GUJGAS
CMP @ 490
Targets @ 570, 630 and 700
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