Market Outlook for Next Week
Weekly Gain/ Loss
Nifty: -197 (-1.97%)
Bank Nifty: +527 (+2.74%)
Technical Outlook: Nifty Continues to break further support and head lower. After a roller coaster ride post the US elections Nifty manages to end tad below 8300 breaking one more crucial support of 8400. Even though Financial sector did manage to support Nifty, Microfinance, IT, Pharma and auto to certain extent turned out to be the laggards which dragged the nifty lower. In the near term 8400 acts a an immediate resistance for nifty where as 8180-8040 turns out to be the near by support
Bank nifty trades in a broad channel of 19200-20500, any break from this channel would determine the further direction of bank nifty. above 20500 bank nifty could head to levels of 21000 and below 19200 bank nifty can come down to levels around 18700
Nifty: -197 (-1.97%)
Bank Nifty: +527 (+2.74%)
Technical Outlook: Nifty Continues to break further support and head lower. After a roller coaster ride post the US elections Nifty manages to end tad below 8300 breaking one more crucial support of 8400. Even though Financial sector did manage to support Nifty, Microfinance, IT, Pharma and auto to certain extent turned out to be the laggards which dragged the nifty lower. In the near term 8400 acts a an immediate resistance for nifty where as 8180-8040 turns out to be the near by support
Bank nifty trades in a broad channel of 19200-20500, any break from this channel would determine the further direction of bank nifty. above 20500 bank nifty could head to levels of 21000 and below 19200 bank nifty can come down to levels around 18700
Stock Picks For Next Week
Stock Name
|
CMP
|
Above/ Below
|
Target 1
|
Target 2
|
Stop Loss
|
Bajaj Finance
|
855
|
850
|
815
|
790
|
875
|
TVS Motors
|
361
|
360
| 350 |
335
|
375
|
PVR
|
1160
|
1150
|
1110
|
1080
|
1180
|
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