Nifty 07Aug23 to 11Aug23 Short,Medium,Long Term & StockPick
Nifty closed at 19517 ( 19646) and touched low & high of 19298 and 19796.
Nifty crossed the Short term support 19500 and touched the medium term support 19300 given last week and then bounced back to 19500.
RSI and Stochastic level dipped to 52 % & 32%. There is a little sign of recovery as per stochastic chart.
Nifty- Short Term might raise.
Resistance at 19600-19700 ( Inclined Trend line), Fib Retracement 0.681 ( 19730), Fib Retracement- 0.5 19848
Support at 19500 ( Shown in thick red support line)
Nifty Medium Term -
Above 19850 Fib 0.5 Retracement/ 20000 (Previous high 19997) it will take it to 20100-20150-in Medium term.
Nifty support at 19300/19000
Can initiate sell around 20000/20150 ( Fibonacci 1.618 level)
Long term-
Q1 results are average for majority of stocks except Banks stocks & to review the Q2 results.
Stock specific approach needed in the upcoming market.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given four weeks back, on an average raised 3-5 % in Three week( Can accumulate on dip ):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
Accumulate CIE Automotive (RS 473.5 ) call was given last week and touched 8% up on the first day of last week and AXIS Bank (950) dipped to 930 last week generated buying opportunity. Can add in their portfolio with Medium term outlook .
Other buy Calls provided a month before:
HDFC Bank , L&T Tech ( 8% up), KPIT (8% Up in last week), PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (18 %), Route Mobile, Bank of Maharashtra ( 25 %), Andhra Paper(3%) Accelya Solutions (4% up)
Nifty closed at 19517 ( 19646) and touched low & high of 19298 and 19796.
Nifty crossed the Short term support 19500 and touched the medium term support 19300 given last week and then bounced back to 19500.
RSI and Stochastic level dipped to 52 % & 32%. There is a little sign of recovery as per stochastic chart.
Nifty- Short Term might raise.
Resistance at 19600-19700 ( Inclined Trend line), Fib Retracement 0.681 ( 19730), Fib Retracement- 0.5 19848
Support at 19500 ( Shown in thick red support line)
Nifty Medium Term -
Above 19850 Fib 0.5 Retracement/ 20000 (Previous high 19997) it will take it to 20100-20150-in Medium term.
Nifty support at 19300/19000
Can initiate sell around 20000/20150 ( Fibonacci 1.618 level)
Long term-
Q1 results are average for majority of stocks except Banks stocks & to review the Q2 results.
Stock specific approach needed in the upcoming market.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given four weeks back, on an average raised 3-5 % in Three week( Can accumulate on dip ):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
Accumulate CIE Automotive (RS 473.5 ) call was given last week and touched 8% up on the first day of last week and AXIS Bank (950) dipped to 930 last week generated buying opportunity. Can add in their portfolio with Medium term outlook .
Other buy Calls provided a month before:
HDFC Bank , L&T Tech ( 8% up), KPIT (8% Up in last week), PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (18 %), Route Mobile, Bank of Maharashtra ( 25 %), Andhra Paper(3%) Accelya Solutions (4% up)
