To buy or sell: During the last week, the Nifty Index showed a strong recovery, which is worth the stock supported by foreign institutional investors (FII). 15,000 crores in cash market. Sector-wise, realty, chemicals, new era businesses, banking, and textiles led the rally, witnesses of about 8%, which helped the Nifty and 6%Nifty and Bank Nifty Post solid weekly benefits respectively.
The bullish motion was primarily inspired by a combination of global and domestic factors, with the decision policy of Reserve Bank of India, along with the decision of US President Donald Trump, prevent the implementation of the standing mutual tariffs, including the decision of the standing mutual tariffs. However, geopolitical tensions, which incorporating US-China and US-Iran, continued the loom by cuisine of more profit in the market.
Nifty 50 performance
From a technical point of view, the Nifty continues to maintain a high high pattern on the weekly chart. On the monthly scale, it successfully retrieved and closed over the 200-day exponential moving averages (EMA), indicating the presence of boom strength in the market.
Currently, the support of the Nifty lies in 22,800–23,000 zones, and according to our earlier analysis, the market trend remains intact with a purchase-on-dubi strategy until the Nifty holds above 21,700–22,000 levels depending on a closing. The region coincides with a 23.6% fibonacci retracement level from Covid-19 climb, it is an important area of support.
21,700 functions effectively as a strong long -term support. Inverted, emotional level resistance is seen around 23,900–24,000 points, and another breakout index can lead to 24,500–24,600 levels.
Bank nifty performance
The bank Nifty also remained flexible through the week, which is significantly above the 50,000 level, which aligns with its 200 EMA and provides strong technical support. If it remains above this level, the index may potentially rally a rally towards an area of 52,000-53,000.
With the Nifty, a purchase-on-dipse approach is appropriate, especially around the major support areas, focusing on selective stock-specific plays within the banking sector. Our resistance target has already been achieved, suggests strength within the index.
conclusion
Finally, both Nifty and Bank Nifty closed above their respective monthly support levels – 22,100 for Nifty and 50,000 for bank Nifty. It would be important to start strong support at 21,700 for Nifty and about 50,500 freshly long posts for bank Nifty.
With an important American-Iran meeting this week, the geopolitical development can affect the spirit, and traders are advised to be cautious keeping a close watch on these major technical levels to effectively navigate the market direction.
Weekly stock
Buy Aditya Birla Capital 198; Stop closed loss 178; target value 225.
Buy Titaghh Rail System 788; Stop closed loss 765; target value 830.
Buy at IRCTC 768; Stop closed loss 800; target value 755.
Rejuvenation: The above views and recommendations belong to individual analysts, experts and broking companies, not mint. We recommend investors to investigate with certified experts before taking any investment decisions.
