Markets traded with Strong Bullish Momentum. Will Nifty Hit above 25500 ?
The first two days were flat for the market, but for the next three days, it gave a strong gap-up move and showed a good upward trend. It delivered almost a 250 to 300 points move in the last three days, taking support from 24,400, and it is still continuing in a bullish trend. The market is in a strong bullish trend. If it breaks the 25,300 resistances, we may see a good continuation of the bullish trend, or else a short reversal could come from there. Nifty closed at 24,740 last Friday, and this Friday it closed at 25,144, in which it covered almost 380 points.
Bank Nifty remained a bit weak compared to Nifty. It was also flat for the first two days, and for the next three days, it opened with a gap-up and gave a strong move. Bank Nifty took good support at 53,600, and after that, it gave an almost 1,200-point move. Last Friday, Bank Nifty closed at 54,144, and this Friday it closed at 54,809, in which it captured almost 700 points.
Important Levels for Nifty Next Week
- Major
Support Levels for Nifty
- Support 1 – 24900
- Support 2 – 24600
- Support 3 – 24300
- Major
Resistance Levels for Nifty
- Resistance 1 – 25200
- Resistance 2 – 25500
- Resistance 3 – 25700
Important Levels for Banknifty Next Week
- Major
Support Levels for Banknifty
- Support 1 – 54400
- Support 2 – 54000
- Support 3 – 53600
- Major
Resistance Levels for Banknifty
- Resistance 1 – 55100
- Resistance 2 – 55600
- Resistance 3 – 56100
Important Stocks to Watch Next Week
CMP @ 2580
Buy Above @ 2590
Stop Loss Below @ 2320
Targets @ 2700, 2820 and 2950
CMP @ 1560
Buy Above @ 1580
Stop Loss @ 1420
Targets @ 1700, 1820 and 1940
CMP @ 530
Buy Above @ 541
Stop Loss @ 505
Targets @ 560, 590 and 630
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