WISH YOU VERY HAPPY MAKAR SANKRANTI & PONGAL
Market last week closed bearishly. Weekly candle chart shows dark cloud cover pattern. Even infosys posts good result & moved remarkably but nifty went down on friday & closed near to day's low. Now what next??? will it move up or down??? Here we give some level's of nifty, keep this level while trading...
Upside resistance - 5979, 6007, 6025-6046 major
Downside support- 5929, 5888, 5950-5960 major
These are support & resistance levels of nifty for next week. Two thing that we have to note for next week, These may be a trend changer. First one FII's because Market not moved much in this month as of now but they invest more than 8k cr in this month.They continuously pumping money here. So they may expect some upside still intact. Please check this in the following link http://www.sebi.gov.in/sebiweb/investment/FIITrendsNew.jsp
Second one is Upcoming Q3 results in this week in bluechip companies. That may also act as a major trend changer in nifty. TCS, AXIS BANK, ITC,HDFC BANK, HERO MOTOCORP,YES BANK, Etc....Already infosys did this job very well. Let us watch other corporate results....If we consider these things nifty may bounce any time from any level.
BANK NIFTY :Sell below 360 sl of 364 target
will be 355,349
SESA GOA :Buy above 197 sl 194 target
will be 202, 210
PORTFOLIO ALERT
keep hold all stocksTHANKS & REGARDS
NSEBSENOW
