Market Outlook for Next Week
Weekly Gain/ Loss
Nifty: -383 (-4.54%)
Bank Nifty: -1302(-6.43%)
Technical Outlook: Nifty Continues to break further support and head lower. Almost all the sectors remained under pressure which led nifty to break the support of 8300 and test the next supoort of 8040. Next, 8000-7970 is proved to be very strong support for nifty one should see whether nifty manages to hold this and bounce back to levels of 8180-8300 which is the resistance.
Bank nifty this week is out of the short term channel of 19200- 20500 and it crashed down to 18950. For bank nifty the near by support comes at 18700 and there is a very strong resistance around 19250. Any move above or below this level would further trigger bank nifty to move 2-3% up or down.
Nifty: -383 (-4.54%)
Bank Nifty: -1302(-6.43%)
Technical Outlook: Nifty Continues to break further support and head lower. Almost all the sectors remained under pressure which led nifty to break the support of 8300 and test the next supoort of 8040. Next, 8000-7970 is proved to be very strong support for nifty one should see whether nifty manages to hold this and bounce back to levels of 8180-8300 which is the resistance.
Bank nifty this week is out of the short term channel of 19200- 20500 and it crashed down to 18950. For bank nifty the near by support comes at 18700 and there is a very strong resistance around 19250. Any move above or below this level would further trigger bank nifty to move 2-3% up or down.
Stock Picks For Next Week
Stock Name
|
CMP
|
Above/ Below
|
Target 1
|
Target 2
|
Stop Loss
|
SunTV
|
460
|
450
|
435
|
415
|
465
|
Larsen and Tourbo
|
1370
|
1360
| 1330 |
1310
|
1380
|
Concor
|
1220
|
1200
|
1165
|
1140
|
1225
|
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