Nifty Short, medium and Long Term review- 04-Sep-23 to 08-Sep-23
Nifty Short, medium and Long Term review - 04-Sep-23 to 08-Sep-23
Nifty closed at 19435(19265) and touched low & high of 19225 and 19457.
Nifty traded slightly above the inclined trend line resistance (19337 to 19250) for four days but couldnt cross decisively and closed at 19435.
RSI and Stochastic level rised to 51 % & 58%. after Oversold zone a sign of recovery.
As mentioned from last week Nifty moved up after taking strong support at 19225-19250.
Nifty- Short Term will try to move up
Resistance at 19516 & 19607 Fib resistance, 19648 ( 09th Aug High)
Support - 19166 ( Fib 0.382 level), 19245-19276 ( Inclined Trend) ,19223 ( Recent Low)
Nifty Medium Term -
After a dip as mentioned above Nifty need to cross decisively above the zone 19648 Fib Resistance to 19704 ( Fib Resitance) to regain 19900-20000.
Nifty strong support at 19070 (Shown in thick red Trend line support) / 19000 /19890
Long term-
Q1 results are average for majority of stocks except Banks stocks which performed well & further to review the Q2 results. To review once Nifty reaches target of 20000 ( Prev high) & 20150
Stock specific approach needed in the upcoming market.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given four weeks back, on an average raised 3-5 % in Three week( Can accumulate on dip ):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
Buy on dip SBI & ICICI Bank , Axis Bank given on 13-Aug-23, all three stocks marginally increased, buy on DIP in the coming week as well.
CIE Automotive (RS 520) call was given three weeks before at 473, buy on dip for Medium term outlook .
Other buy Calls provided on 25-Jun-23 :
HDFC Bank , L&T Tech ( 17% up), KPIT (13% Up ), PI Ind , Dr Reddys ( 10% Up), Ujjvan Small Fin (25 %), Route Mobile, Bank of Maharashtra ( 40 %), Andhra Paper(8%) Accelya Solutions (20% up)
Nifty closed at 19435(19265) and touched low & high of 19225 and 19457.
Nifty traded slightly above the inclined trend line resistance (19337 to 19250) for four days but couldnt cross decisively and closed at 19435.
RSI and Stochastic level rised to 51 % & 58%. after Oversold zone a sign of recovery.
As mentioned from last week Nifty moved up after taking strong support at 19225-19250.
Nifty- Short Term will try to move up
Resistance at 19516 & 19607 Fib resistance, 19648 ( 09th Aug High)
Support - 19166 ( Fib 0.382 level), 19245-19276 ( Inclined Trend) ,19223 ( Recent Low)
Nifty Medium Term -
After a dip as mentioned above Nifty need to cross decisively above the zone 19648 Fib Resistance to 19704 ( Fib Resitance) to regain 19900-20000.
Nifty strong support at 19070 (Shown in thick red Trend line support) / 19000 /19890
Long term-
Q1 results are average for majority of stocks except Banks stocks which performed well & further to review the Q2 results. To review once Nifty reaches target of 20000 ( Prev high) & 20150
Stock specific approach needed in the upcoming market.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given four weeks back, on an average raised 3-5 % in Three week( Can accumulate on dip ):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
Buy on dip SBI & ICICI Bank , Axis Bank given on 13-Aug-23, all three stocks marginally increased, buy on DIP in the coming week as well.
CIE Automotive (RS 520) call was given three weeks before at 473, buy on dip for Medium term outlook .
Other buy Calls provided on 25-Jun-23 :
HDFC Bank , L&T Tech ( 17% up), KPIT (13% Up ), PI Ind , Dr Reddys ( 10% Up), Ujjvan Small Fin (25 %), Route Mobile, Bank of Maharashtra ( 40 %), Andhra Paper(8%) Accelya Solutions (20% up)
