MD - Aapka Investments
Website - https://www.aapkainvestments.in
“Nifty was bearish this week. Will we see the same trend next week, or can we expect a reversal?”
“Last
week, the market fell quite sharply, but after that it opened with a gap up and
showed a strong bullish movement, covering more than 80% of the entire fall.
Looking at this, it clearly seems that the market is still respecting the
25,700-support level very well, and at the same time it is also respecting the
26,050-resistance level. If the market breaks the strong resistance at 26,050,
then we can see a good bullish movement. And if Nifty breaks the major support
at 24,700, then we may see further downside.”
“Last
Friday, Nifty closed at 26,046, and this Friday it closed at 25,966, which is a
bearish move of 80 points. But as we can see, it is still stuck between the
major resistance at 26,050 and the major support at 24,700.”
“Bank Nifty was quite weak this week compared to Nifty. Even though Bank Nifty opened with a gap down on the first day, it showed a strong bullish move and filled the gap. But after that, it fell continuously for three days. On the last day, it opened with a gap up and tried to cover the fall, but overall Bank Nifty remained bearish this week with a move of 320 points. Last Friday, Bank Nifty closed at 59,390, and this Friday it closed at 59,069, which is a decline of 320 points.
Important Levels for Nifty Next Week
- Major Support Levels for Nifty
- Support 1 – 25900
- Support 2 – 25600
- Support 3 – 25300
- Major Resistance Levels for Nifty
- Resistance 1 – 26050
- Resistance 2 – 26250
- Resistance 3 – 26350
Important Levels for Banknifty Next Week
- Major Support Levels for Banknifty
- Support 1 – 58900
- Support 2 – 58500
- Support 3 – 58100
- Major Resistance Levels for Banknifty
- Resistance 1 – 59200
- Resistance 2 – 59700
- Resistance 3 – 60200
Important Stocks to Watch Next Week
CMP @ 495
Buy Above @ 501
Stop Loss Below @ 470
Targets @ 520, 540 and 565
Buy Above @ 3970
Stop Loss @ 3650
Targets @ 4100, 4250 and 4400
Buy Above @ 7460
Stop Loss @ 7000
Targets @ 7650, 7850 and 8100
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