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MARKET IS WEAK, DOWN 300 TO 400 POINTS. WILL IT RECOVER NEXT WEEK OR GO DOWN FURTHER?
"In
the first two days of last week, the market performed well, but after that, it
continuously declined by 300 to 400 points. Nifty had closed at 25,461 last
week, and this Friday it closed at 25,150, which is a fall of almost 300 to 350
points. Looking at this, it is clear that big investors are booking profits at
higher levels. Next week, we might see further downside, because if Nifty
breaks the 25,200 level, we could witness a sharp fall. Otherwise, if it goes
up to 25,700, we may see an upward move from there."
“In
the last week, Banknifty was flat for the first three days, but in the last two
days, it also fell by 300 points. However, compared to nifty, Banknifty showed
relatively stronger performance. If this week banknifty breaks 56000 level, we
may see a decline in banknifty.
Important Levels for Nifty Next Week
- Major Support Levels for Nifty
- Support 1 – 25000
- Support 2 – 24800
- Support 3 – 24500
- Major Resistance Levels for Nifty
- Resistance 1 – 25400
- Resistance 2 – 25700
- Resistance 3 – 26000
Important Levels for Banknifty Next Week
- Major Support Levels for Banknifty
- Support 1 – 56600
- Support 2 – 55500
- Support 3 – 54600
- Major Resistance Levels for Banknifty
- Resistance 1 – 57300
- Resistance 2 – 57700
- Resistance 3 – 58200
Important Stocks to Watch Next Week
1) COROMANDEL
Buy Above @ 2345
Stop Loss Below @ 2190
Targets @ 2500, 2635 and 2750
CMP
@ 1370
Buy Above @ 1390
Stop Loss @ 1300
Targets @ 1450, 1530 and 1600
3) INDUSTOWER
Buy Above @ 410
Stop Loss @ 390
Targets @ 430, 480 and 520
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