The previous week has been an exciting one even with the ups and downs occurring in between,
The Indian Indices have been witnessing a major shift and the market seems to be following a bullish trend after witnessing high selling pressure.
So what’s in store for the market next?
Nifty on the rise after strong selling pressure. What’s next for the market?
Buy Above – 19500 | Target – 20000 | Stop Loss – 19000 |
After the previous week throwing high selling pressure on the way to the market, Nifty seems to be following a bullish trend.
The trend has broken last week’s low and narrow trading session.
It has formed a small body pin bar candlestick pattern and displays bullish trends.,
The resistance was placed at 19500/19700. Support was placed at 19200/19000.
Bank Nifty follows suit to Nifty after witnessing high selling pressure. Where is the market heading now?
Buy Above – 44300 | Target – 45300 | Stop Loss – 43600 |
It isn’t surprising that Nifty and Bank Nifty follow the same trajectory in many ways.
After Bank Nifty witnessed immense selling pressure this week, it closed below the last week’s low and a bullish divergence has been formed.
It has formed a strong small body bearish pin bar candlestick pattern.
Resistance was placed at 44300 /44800. Support was placed at 43600/43000.
Hottest Stocks in The Market:
It’s that time of the week when we list out the best stocks in the market.
Nifty Pharma:
SYNGENE EQ
BUY ABOVE – 817 | STOP LOSS – 717 | TARGET – 917 |
Consumer Durables:
WHIRLPOOL EQ
BUY AROUND – 1555 | STOP LOSS – 1355 | TARGET – 1755 |
BATAINDI EQ
BUY AROUND – 1720 | STOP LOSS – 1600 | TARGET – 1840 |
Trending Equity News:
Here are the trending equity news of the week.
Norges Bank, on account of the Government Pension Fund Global, bought a 0.86 per cent equity stake in India-based biotech pharma company Concord Biotech, via open market transactions, on August 18.
Global Surfaces, an engineered quartz stone supplier, was in action on August 18, climbing 4 per cent to Rs 182.70. The company’s 0.6 per cent stake, in the form of 2.5 lakh shares, was picked up by Europe-based financial services group Societe Generale. The shares were bought at an average price of Rs 177 per share.
The action was also seen in Shriram Properties, which jumped 5 per cent to Rs 73.5, though Bangalore-based real estate firm Sammy’s Dreamland sold 10.23 lakh equity shares or 0.6 per cent stake in the realty developer at an average price of Rs 73.46 per share.
That’s all for today folks.
We’ll be back with more news soon.
Until then, Happy Trading!!