Investment Point
Investment Point research desk
MD - Aapka Investments
Website - https://www.aapkainvestments.in
"Nifty was quite weak this week. The first three days were in a narrow range and sideways, then it had an 80-point gap-up opening. On the last day, it even filled that gap. Overall, this week Nifty gave a very small move, just a 158-point move." "And Nifty respected a major resistance at 26,200."
"Nifty closed at 25,910 last week and this week it closed at 26,068, which is only a 158-point move. Nifty is strongly respecting the major resistance at 26,200. If Nifty breaks the 26,200 resistances, we could see a good upward move; otherwise, a reversal may come from here."
"Bank Nifty was still a bit stronger this week compared to Nifty. On the first day, Bank Nifty opened with a 150-point gap-up, after which it showed a strong bullish move. On the last day, Bank Nifty fell by 480 points and closed at 58,867. Last week it had closed at 58,517, which means it gave a 350-point move."
Important Levels for Nifty Next Week
- Major
Support Levels for Nifty
- Support 1 – 26000
- Support 2 – 25800
- Support 3 – 25600
- Major
Resistance Levels for Nifty
- Resistance 1 – 26200
- Resistance 2 – 26400
- Resistance 3 – 26600
Important Levels for Banknifty Next Week
- Major
Support Levels for Banknifty
- Support 1 – 58700
- Support 2 – 58100
- Support 3 – 57600
- Major
Resistance Levels for Banknifty
- Resistance 1 – 59000
- Resistance 2 – 59500
- Resistance 3 – 59900
Important Stocks to Watch Next Week
1) DCMSHRIRAM
Buy Above @ 1280
Stop Loss Below @ 1160
Targets @ 1310, 1360 and 1420
2) MARUTI
CMP @ 15970
Buy Above @ 16155
Stop Loss @ 15600
Targets @ 16350, 16650 and 16950
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Disclaimer :
Investments in the securities market are subject to market risks. All content and Index / securities mentioned are strictly for educational and journalistic purposes and do not constitute personalized buy, sell, or hold investment recommendations, Please read all related documents and full disclosures at nikhilbhatt.in before investing.