Nifty Short, medium and Long Term review - 28-Aug-23 to 02-Sep-23
Nifty closed at 19265 (19310) and touched low & high of 19230 and 19578.
Nifty couldnt cross the inclined trend line resistance as provided last week (19550) decisively and closed near the support provided last week( 19300 Aug low)
RSI and Stochastic level at 42 % & 16%. Stochastic in over sold zone.
As mentioned from last week Nifty will try to move up after taking strong support
Nifty- Short Term will take the support and try to move up and cross resistance.
Resistance at 19477 Fib resistance/ 19386 ( MA 50)
Support - 19166 ( Fib 0.382 level),
market might tend to move sideways on this level for a week.
Nifty Medium Term -
After a dip as mentioned above Nifty need to cross decisively above the trend line support 19477-19386 in the coming weeks to regain 19700 and above.
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 19890,20000 ( 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 ( 571) & ICICI Bank ( 948), Axis Bank ( 942) on 13-Aug-23, buy on DIP in the coming week as well.
CIE Automotive (RS 482 ) call was given two weeks before at 473 and raised 8% an dipped.Can buy on further dip with Medium term outlook .
Other buy Calls provided a month before: Buy on Dip
HDFC Bank , L&T Tech ( 6% up), KPIT (8% Up ), PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (21 %), Route Mobile, Bank of Maharashtra ( 35 %), Andhra Paper(3%) Accelya Solutions (4% up)
Nifty closed at 19265 (19310) and touched low & high of 19230 and 19578.
Nifty couldnt cross the inclined trend line resistance as provided last week (19550) decisively and closed near the support provided last week( 19300 Aug low)
RSI and Stochastic level at 42 % & 16%. Stochastic in over sold zone.
As mentioned from last week Nifty will try to move up after taking strong support
Nifty- Short Term will take the support and try to move up and cross resistance.
Resistance at 19477 Fib resistance/ 19386 ( MA 50)
Support - 19166 ( Fib 0.382 level),
market might tend to move sideways on this level for a week.
Nifty Medium Term -
After a dip as mentioned above Nifty need to cross decisively above the trend line support 19477-19386 in the coming weeks to regain 19700 and above.
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 19890,20000 ( 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 ( 571) & ICICI Bank ( 948), Axis Bank ( 942) on 13-Aug-23, buy on DIP in the coming week as well.
CIE Automotive (RS 482 ) call was given two weeks before at 473 and raised 8% an dipped.Can buy on further dip with Medium term outlook .
Other buy Calls provided a month before: Buy on Dip
HDFC Bank , L&T Tech ( 6% up), KPIT (8% Up ), PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (21 %), Route Mobile, Bank of Maharashtra ( 35 %), Andhra Paper(3%) Accelya Solutions (4% up)
