CFA Hitesh Somani
Website - https://www.aapkainvestments.in
Markets in deep selling panic, Nifty, Sensex and Banknifty are facing
heavy selling pressure, Banknifty plunges 7000 points from top, what next?
Last week markets have faced a heavy
selling pressure amid war situations and rising gas cylinder prices, we saw a
global sell off in the markets and all index fell with heavy selling panic.
Nifty fell near 23000 levels and banknifty was dragged 7000 points down and
fell below 54000 from its recent high near 61000. PSU banks was the most who
fell on Friday. In the whole week, there was no positive day on the markets,
everyday nifty closed with nearly 400 – 500 points down which shows that
markets are in deep panic amid global war tensions
In the last week nifty fell more than 1400
points and closed near 23150 levels. Now nifty is near its support @23000 if in
the coming week nifty closes below 23000 then we may see it fall further and it
may fall towards 22000 levels also. Banknifty also fell sharply towards 54000
levels indicating a further downside till 52000 and 50000 levels.
In the coming week also we can see some
further downside in the markets, but if the war situations gets under control,
markets may revive from the bottom levels but in the current scenarios markets
are in sell on rise mood. We can only expect good upside in the markets if
nifty manages to sustain above 25000 levels till that time investors must
remain cautious and wait to buy on dips.
Important Levels for Nifty Next Week
Major Support Levels for Nifty
Support 1 – 23000
Support 2 – 22500
Support 3 – 22000
Major Resistance Levels for Nifty
Resistance 1 – 23700
Resistance 2 – 24200
Resistance 3 – 24800
Important Levels for Banknifty Next Week
Major Support Levels for Banknifty
Support 1 – 53500
Support 2 – 52800
Support 3 – 52200
Major Resistance Levels for Banknifty
Resistance 1 – 54200
Resistance 2 – 54900
Resistance 3 – 55400
Important Stocks to Watch Next Week
1) HINDUNILEVER
CMP 2160
Buy Above 2200
Stop Loss Below 2110
Targets – 2290, 2390 AND 2490
CMP 1290
BUY ABOVE 1320
STOP LOSS BELOW 1260
TARGETS – 1360, 1420 AND 1480
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