It’s no surprise that the Indian indices have been on a roll for the past few weeks as we witness history in the making as the market expands extensively.
As per analysis, it’s been confirmed that the Indian Indices have witnessed Bullish trends in the previous week and the question on everyone’s mind is if it’ll continue this week as well!!
Well, let’s get started on analyzing that!!
Nifty rides the Bullish wave to newer heights! What’s the trajectory?
Buy Around – 20000 | Stop Loss – 19500 | Target 20500 |
This week was truly something incredible as Nifty started its steady rise after a flat opening.
It has closed on a positive note, reaching a new all-time high.
The market’s positive sentiment and strong momentum are adding towards the bullish trend and it has formed a bullish Marubozu candlestick pattern.
Resistance has been laced at 20500/20800. Support has been placed at 19800/19500.
Bank nifty displays Bullish movement but with a weak trend. Will it be able to go higher?
Buy Around – 45800 | Stop Loss – 44400 | target – 46800 |
This week was integral for Bank Nifty as well as it kicked off with a strong gap up and maintained a solid upward momentum.
it ended close to a significant resistance zone, marked by a rising wedge pattern and a resistance trend line.
It has formed a bullish marubozu candlestick pattern with high trading volume/
Resistance was placed at 46500/ 47000. Support was placed at 45000/ 44500.
Stocks in Focus:
It’s time to turn your attention towards stocks that will keep you on your toes and might even make your portfolio a bit heavier. So without further adieu, let’s begin!!
Media:
SUNTV EQ
BUY AROUND – 585 | STOP LOSS – 535 | TARGET – 685 |
NAVNETEDUL EQ
BUY ABOVE – 165 | STOP LOSS – 145 | TARGET – 185|
Pharma:
DREDDY EQ
BUY ABOVE – 5850 | STOP LOSS – 5550 | TARGET – 6150 |
SUN PHARMA EQ
BUY ABOVE – 1160 | STOP LOSS – 1060 | TARGET – 1260/1300 |
Metal:
HINDALCO EQ
BUY ABOVE – 510 | STOP LOSS – 460 | TARGET – 560 |
HILTON EQ
BUY ABOVE – 165 | STOP LOSS – 130 | TARGET – 200 |
Trending Equity News:
It’s that time of the week when we take you on a journey through the market where we introduce you to the companies making noise
Krishna Institute of Medical Sciences Ltd:
‘Krishna Institute of Medical Sciences’ subsidiary KIMS Hospital Enterprise Pvt. Ltd has made further investment by acquiring an additional equity stake of 11.52% in M/s. Kondapur Healthcare Ltd.
Brigade Enterprises Ltd.:
Brigade Enterprises has entered into a sale deed for acquiring 5 Acres of 35.25 guntas of land parcel located at Vekatala, Bangalore for an overall consideration of INR 123.51 crore from Bangalore Ceramics.
Bharat Electronics Ltd. :
The company has received an order of INR 886 crore to upgrade AFNET SATCOM N/W, upgrade of Akash Missile with RF Seeker, Inertial Navigation System and other equipment with accessories and spares etc.
It has also received an order of INR 2,118.57 crore from Cochin Shipyard Ltd.
We’ll be back with more news soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease