1185 low may not hold.Infosys monthly chart has faced rejection from downward trendline. The uptrend on lower time frames seems unreliable.
❤ & follow for more.
Niftyit
Nifty 31Jul23 to 04Aug23 Short,Medium,Long Term & StockPickNifty 31Jul23 to 04Aug23 Short,Medium,Long Term & StockPick
Nifty closed at 19646 ( 19745) and touched low & high of 19572 and 19871.
Nifty long call was given Three week back (at 19250) and touched all time high 19996
RSI and Stochastic level dipped to 60 % & 48%.
Nifty- In Short term might increase
Resistance at 20000,
Support at 19500 ( Shown in thick red support line)
Nifty Medium Term -
Above 20000 it will take it to 20100-20150-in Medium term.
Nifty support at 19300/19000
Can initiate sell around 20000-20150 ( Fibonacci 1.618 level)
Long term-
Q1 results are average for majority stocks except Bank stocks so far & to review the Q2 results.
Stock specific approach needed in 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.
Can add CIE Automotive (RS 473.5 ) and AXIS Bank (950) in their portfolio with Medium term outlook - 30-Jul-23
HDFC Bank , L&T Tech ( 8% up), KPIT , PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (16 %), Route Mobile, Bank of Maharashtra ( 25 %), Andhra Paper(3%) Accelya Solutions
Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty 23Jul23to27Jul23 Short,Medium,LongTerm&StockPickNifty 23Jul23 to 27Jul23 Short,Medium,Long Term & StockPick
Nifty closed at 19745 ( 19422) and touched low & high of 19571 and 19996.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given three 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.
HDFC Bank , L&T Tech ( 6% up), KPIT , PI Ind , Dr Reddys ( 6% Up), Ujjvan Small Fin (13 %), Route Mobile, Bank of Maharashtra ( 26 %), Andhra Paper(4%) Accelya Solutions
Nifty long call was given Three week back (at 19250) and touched all time high 19996
RSI and Stochastic level dipped to 68 %
Nifty- In Short term might increase
Resistance at 20000,
Support at 19500 ( Shown in red line) /
Buy on Dip above this support level
Nifty Medium Term -
Above 20000 it will take it to 20100-20150-in next 2-3 weeks
Nifty support at 19300/19000
Can initiate sell around 20100-20150 ( Fibonacci 1.618 level)
Long term-
To review the Q2 results.
Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
NIFTY IT near crucial breakout level.CNX IT on the verge of breakout above 31,100. It would be worth keeping an eye on the whole IT pack. Many like TECHM have been breaking out.
❤ & follow?
Tech Mahindra : What's Next for the IT Giant?The Tech Mahindra stock price has been consolidating in a range for the past few months. However, the recent price action suggests that the stock is poised to break out to the upside.
Nifty 10Jul23 to 14Jul23 Short,Medium,LongTerm & StockPickNifty 10Jul23 to 14Jul23 Short,Medium,Long Term & StockPick
Nifty closed at 19313 ( 19189) and touched low & high of 19239 and 19525.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given last week , on an average raised 3-5 % in one week( Can accumulate on dip if it already raised):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last two weeks.
HDFC Bank , L&T Tech ( 4% up), KPIT , PI Ind ( 4% up ), Dr Reddys ( 5% Up), Ujjvan Small Fin (11 %), Route Mobile, Bank of Maharashtra ( 18.5%), Andhra Paper,(4%) Accelya Solutions
Nifty lomg call was given last week and slightly increased in this week.
RSI and Stochastic level dipped to 68 % and 78% respectively.
Nifty- In Short term might increase
Resistance at 19650,
Support at 18890 Previous high/ 19040 (Inclined trend line resistance)
Buy on Dip above this support level
Nifty Medium Term -
Above 19650 it will take it to 19800-in next 2-3 weeks
Nifty support at 18620/18446 ( Fibonacci)
Can initiate sell around 19800-20000.
Long term-
Targets of 20000/ 20155 ( Fibonacci resistance)
Nifty have multiple support for long Term - 18000 / 18260/ 18210/18109 ( Previous Highs)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty 3Jul23 to 7Jul23 Short,Medium,Long Term & StockPick Nifty 3Jul23 to 7Jul23 Short,Medium,Long Term & StockPick ( most of the stocks Raised average 3-5% in one week)
Nifty closed at 19819 ( 18665) and touched low & high of 18648 and 19207.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given last week , on an average raised 3-5 % in one week( Can accumulate on dip if it already raised):
Disclaimer: For analysis purpose only.
HDFC Bank ( 4% up from Last week), L&T Tech, KPIT ( 4% up from Last week), PI Ind ( BOD 3500), Dr Reddys ( 5% Up), Ujjvan Small Fin, Route Mobile, Bank of Maharashtra ( 6.5% up), Andhra Paper, Accelya Solutions
Nifty was expected to crossed the resistance at 19060/19100 decisively.
RSI and Stochastic level raised to 97 % and 71% respectively.
Nifty- In Short term might increase
Resistance at 19275-19281 for two weeks,
Support at 18890 Previous high/ 19040 (Inclined trend line resistance)
As mentioned before time to Clean the portfolio can initiate sell if face stiff resistance at above levels.
Nifty Medium Term -
Nifty on decisive upward move above 19275-19281 it will take it to 19614/ 19695
Nifty support at 18620/18446 ( Fibonacci)
Long term-
Need to decisively close above 19350 to reach targets of 19500/20000
Nifty have multiple support for long Term - 18000 / 18260/ 18210/18109 ( Previous Highs)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty 26Jun23 to 30Jun23 Short,Medium,Long Term & StockPickNifty 26Jun23 to 30Jun23 Short,Medium,Long Term & StockPick
Nifty closed at 18665 ( 18826) and touched low & high of 18885 and 18648.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way:
HDFC Bank, L&T Tech, KPIT (Buy on Dip BOD at 925), PI Ind ( BOD 3500), Dr Reddys, Ujjvan Small Fin, Route Mobile, Bank of Maharshtra, Andhra Paper, Accelya Solutions
Nifty was expected to cross previous high 18890, and might face resistance at 19060/19100 but couldnt surpass 18890 and faced stiff resistance and dropped lower.
partial sell / Profit booking call was provided last week and continues for this week. This will be opporunity to clean the portfolio.
RSI and Stochastic level dropped to 54% and 39% respectively. Significantly moved below the Mean level.
Nifty- Short term might be sideways movement/ Short Dip.
Resitance at 18890 Previous high/ 19040 (Inclined trend line resistance)
Nifty support at 18620/18446 ( Fibonacci)
Nifty Medium Term -
Nifty on decisive upward move above 19100 will take it to touch 19200-19350( red inclined resistance) in medium term. But as mentioned above after a dip.
Support - 18260/ 18210/18109 ( Previous Highs)
Long term-
Need to decisively close above 19350 to reach targets of 19500/20000
Nifty have multiple support for long Term - 17865/18000
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty 19 Jun 23 to 23 Jun 23 Short ,Medium and Long TermNifty 19 Jun 23 to 23 Jun 23 Short ,Medium and Long Term
Nifty closed at 18826 ( 18563) and touched low & high of 18561 and 18862.
Buy call was given on dip on 21-May-23 at 18181.
The stiff resistance provided (inclined trend line ) for the week 18745 to 18786 acted well, on the last day of the week, nifty broke the weekly resistance on a decisive note.
RSI and Stochastic level raised to 65% and 85% respectively.
Nifty- expected to cross prev. High 18890, short term is sideways/ short dip expected after touching 19060/19100 as shown inclined line (blue color) which will act as resistance for short term.
Can book some profits at this level. Sell overvalued stocks.
Nifty support at 18620
Nifty Medium Term -
Nifty expected to break 19100 and to touch 19200-19350( red inclined resistance) in medium term. But as mentioned above after a dip.
Support - 18446 ( Fibonacci).
Long term-
Need to decisively close above 19350 to reach targets of 19500/20000
Nifty have multiple support for long Term - 17865/18000/18111
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty 12 Jun 23 to 16 Jun 23 Short ,Medium and Long TermNifty 12 Jun 23 to 16 Jun 23 Short ,Medium and Long Term
Nifty closed at 18563 ( 18535) and touched low & high of 18537 and 18772.
Buy call was given on dip on 21-May-23 at 18181.
The stiff resistance provided (inclined trend line ) for the week 18689 to 18734 acted well.
nifty faced that resistance as expected.
RSI and Stochastic lowered to 60% level from 72-75%.
Nifty- short term is sideways/ short dip.
Nifty support at 18446 ( Fibonacci) / Previous highs at 18274 /18204/18111
Nifty Resistance is at 18620 and inclined trend line (Resistance 18745 to 18786 ) as shown in the chart.
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890 /19000 in medium term.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) and also the very important resistance ( Red Inclined line shown 19200- 19350)to reach targets of 19500/20000
Support at 17850 /17550 /17200
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty 5 Jun 23 to 9 Jun 23 Short ,Medium and Long TermNifty 5 Jun 23 to 9 Jun 23 Short ,Medium and Long Term
Nifty closed at 18534 ( 18495) and touched low & high of 18464 and 18664.
Nifty closed marginally higher than previous week.
Buy call was given on dip on 21-May-23.
Last week there was a stiff reistance was given at 18620 and shown with Thick green Horzontal line.
nifty faced that resistance as expected.
RSI ,MACD and Stochastic have crossed the signals and at peak with Further room to move upwards.
Nifty- short term is Long.
Need to decisively close above 18620
Nifty Resistance is inclined trend line ( for the week 18689 to 18734 )
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890 /19000 in medium term.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) and also the very important resistance ( Red Inclined line shown 19200- 19350)to reach targets of 19500/20000
Support at 17850 /17550 /17200
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 55%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (15%)
Nifty IT (10%)
Nifty 15May23 to 19May23 ST,MT & LT-Chart Cleaned for VisibilityNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term
Nifty closed at 18314 ( 18069) and touched low of 18100.
Nifty touched high of 18389.
Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support.
Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
RSI ,MACD and Stochastic are at 69%, 210 and 92%
KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions.
However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term.
Nifty- short term is Neutral to Long.
Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) .
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890.
Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low)
Below that 17387- 17340/ 17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
17208/17180//17000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT (Buy on dip)
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long TermNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term
Nifty closed at 18314 ( 18069) and touched low of 18100.
Nifty touched high of 18389.
Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support.
Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
RSI ,MACD and Stochastic are at 69%, 210 and 92%
KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions.
However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term.
Nifty- short term is Neutral to Long.
Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) .
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890.
Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low)
Below that 17387- 17340/ 17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
17208/17180//17000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT (Buy on dip)
TCS bullish breakout of w pattern.There is bullish Breakout in TCS.
On daily chart their is technical price action break out of W pattern.
One should hold TCS for short term gain.
NDQ - Double BottomNDQ has formed double bottom at 13,000 range, tGT 1 is 13150
With Central bank being neutral, NDQ will break the supply zone and will fly soon.
Infy - Cup and Handle - waiting for breakoutReasons for the cup and handle to breakout:
Infy - Cup and Handle - waiting for breakout
Retest done at RBR candle in daily
Huge possibility for gap filling
Nasdaq has tested the current supply zone multiple times and ready for breakout
TCS is in the clear up trend. Some short covering positions is holding the infy to breakout.
Huge OI is formed at 1300 levels, so 1280, 1260 will see a short covering positions which is pulling the current selling.
Today's close is above the RBR demand area which is a positive sign.
Nifty 08 May 23 to 12 May 23 Short ,Medium and Long TermNifty 08 May 23 to 12 May 23 Short ,Medium and Long Term
Nifty closed at 18069 ( 18090) and touched low of 18042
Nifty touched high of 1827.
Mainly followed the band resistance provided last week ( as mentioned below) due to awaiting of FED decision and followed by drop on last day due to HDFC stocks.
Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
RSI ,MACD and Stochastic are at 62% fall from 75%
So far Q4 have mixed results.
Nifty- short term is Neutral to Long.
Need to decisively close above 18274 to reach targets ext target at 184372/18465 ( fibonacci resitances) .
Nifty small Resistances at 18111/18204/18274
Nifty support at 17869/177741 ( Previous Highs) and 17570/17530 (Inclined two trend line)
Nifty Medium Term -
Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.
Nifty Support at 17387- 17340/ 17180/17200/17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT ( Buy on dip)
Infosys - ADR - Good breeak outInfosys - ADR - Good breeak out
1:5 RR.
Cup and handle formation
Quality supply area is created
Nifty 02 May 23 to 5 May 23 Short ,Medium and Long TermNifty 02 May 23 to 5 May 23 Short ,Medium and Long Term
Nifty touched a high of 18090 ( 17865) and touched low of 17610
Nifty closed at 18065 (Prev Close 17627).
Nifty crossed the key 17867 Resistance last week ( as mentioned in last week analysis) and touched above 18000, which shows a positive sign.
RSI ,MACD and Stochastic are above 75% and green zone.
Q4 results are being announced and many companies posted good results.
As expected Banks and NBFCs are posting good results. Can be bought for Medium term. Nifty Bank already gave good returns ( +7%) in the last 1 month as mentioned in previous reports.
Nifty- short term is Long.
Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
Above these resistances next target at 184372/18465 ( fibonacci resitances)
Nifty support at 17570/17530 (Inclined two trend line)
Nifty Medium Term -
Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.
Nifty Support at 17387- 17340/ 17180/17200/17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT ( Buy on dip)
Buy SAKSFOTHigh relative strength strongness was witnessed yesterday. (Relative to NIFTY IT)
Sure target of 175 (40 days), trail after that
#Niftyit #Nifty May retest 1400 but trend is downInfosys is down after missing estimates
Infy may technically re bounce to 1400 levels but its going to go towards 1000
Recession in Developed markets are taking a toll
Nifty 17 Apr 23 to 21 Apr 23 Short ,Medium and Long TermNifty 17 Apr 23 to 21 Apr 23 Short ,Medium and Long Term
Nifty touched a high of 17638 and low of 17610.
Nifty closed at 17828 (Prev Close 17601).
Nifty Crossed crucial resistance of 17690 last week.
Medium Term call for buy on dips worked well
Nifty Bank, Nifty IT and Nifty 50 increased by 5% from low. Especially Nifty bank surpassed ( 7.5%) other indices.
Buy call was given for all the above indices a month back on dips.
RSI, stochastic and MACD in near top zone.
Nifty- short term is Positive.
Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances )
Above these resistances next target at 18000/18100
Nifty firm support at 17500-17457
Nifty Medium Term -
Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.
Nifty Support at 17180/17200/17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT
Nifty 10 Apr 23 to 13 Apr 23 Short ,Medium and Long TermNifty 10 Apr 23 to 13 Apr 23 Short ,Medium and Long Term
Nifty touched a high of 17638 and low of 17310.
Nifty closed at 17599 (Prev Close 17359).
Global Economy is reversing but lot of agencies have given cautious & weakest growth % of 2-3% for next 5 years.
Interest rate are at peak and signs of reversal and inflation are reducing.
But Threat of Geopolitical Tension still there.
Markets have raised last week above the initial resistances, moved past MA 200 & MA 50.
Medium Term buy on Dip worked well
Nifty Bank, Nifty IT and Nifty 50 increased by 2-5% from low. Especially bank surpassed other indices.
RSI, stochastic and MACD recovered & crossed above 50% the MA and moving up.
Nifty (16945) short term is Positive.
Nifty Resistance at 17699/17650 (Shown in Green Color Declining Trend Line Resistances )
Above these resistances next resistance are at 17818/17860( Fibonacci Resistances )
Nifty immediate support at 17500-17457
Nifty Medium Term -
Nifty need to break decisively above 17860 ( Fibonacci Retracement) to move past 18000/18205.
There is a chance of reversal from the peak, depends on the global situation.
Nifty Support at 17180/17200/17252
Long term-
Above 18265 Target Nifty 18890 ( Previous Dec22 High)
Need to decisively close above 18890 to reach targets of 19500/20000
long term support at 16746 ( Sep22 Low)
In case if it falls below then next major support at 16300, then market may go down to 15900.
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT
