Market Outlook for Next Week

Weekly Gain/ Loss

Nifty: -215 (2.41%)

Bank Nifty: -417 (2%)


Technical Outlook: Nifty breaks out of crucial psychological resistance of 9000 and continues to hold on above 9000 indicating a very strong bullish momentum.
Considering VIX which is at multiyear low, it suggest that market is definitely headed for a correction in short term.
Considering support which comes in at 9000, which means nifty can still correct 160 points from the current levels to find support at 9000.
In 2-5 month term Nifty might test  9500-9700

Bank Nifty too broke above 21000. Bank nifty too has chance of witnessing a correction. Crucial support for Bank nifty comes around at 20800, which means that bank nifty can still come down upto 2%.


Stock Picks For Next Week

Stock Name
CMP
Above/ Below
Target 1
Target 2
Stop Loss






HindZinc
313
325
340
355
318
Ajanta Pharma
1796
1825
1875
1900
1780
Bajaj Finance
1157
1200
1250
1270
1170

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