Nifty Infrastructure SellThis index complete Weekly time wave 4 correction . Wave downside target 8000
CNXINFRA trade ideas
Sectoral Analysis in the beginning of the monthWe use our Customised Indicator called ECG to mark the most important support and resistance zones for the price in the respective time frame. Here we have plotted the index charts on day time frame which gives us the levels for positional trades which are valid for the whole month of August 2024.. Now the yellow colour lines form a zone which makes the home of the price.. Upper yellow line is the breakout line and the lower yellow line is the breakdown line. So if the price gives a valid crossover above the breakout then it is a bullish indication and if the price closes below the breakdown then it is a bearish indication. Above the Breakout zone we have the Upper PRZ zone which is a potential reversal zone and similarly below the breakdown level there is Lower PRZ zone.. the PRZ zones marked in red colour act as a trend changer and major moves are expected from these zones.. the zones are small hence they create good value proposition for us. Beyond the PRZs both on upper and lower end we have the cycle targets depicted in green colour.
So when the month starts we can refer to our Sector Analyser chart Setup and see which sector is looking good for the month and how they are progressing. We can also identify early change in trends from the PRZ zones.
We usually refer to the chart once in a day or at EOD to make our analysis.
NIFTY INFRA (L&T^)nifty infra , made cup now take consolidation due to making of handle , but on stock wise my pick is (l&t)
Sector Analysis Four sectors that are outperforming NSE:NIFTY
{A} NSE:BANKNIFTY Though not by big margin definitely out performing NSE:NIFTY . Break above 42000 will be a great sign.
Stocks to watch out; 1) NSE:CANBK 2) NSE:ICICIBANK 3) NSE:INDUSINDBK 4) NSE:SBIN
{B} PSU Bank . 1) NSE:CANBK 2) NSE:SBIN 3) NSE:BANKBARODA
{C} NSE:CNXINFRA got a big push at Budget and is evident from stock performance . 1) NSE:LT 2) NSE:SIEMENS 3) NSE:ABB 4) NSE:NTPC
{D} BSE:MIDCAP is best out performer, if overall market improves will run away. 1) NSE:CUMMINSIND 2) NSE:PGHL 3) NSE:HAL 4) NSE:TORNTPOWER
Infra-sectorDon't miss this opportunity
Stoploss 3% target 10-15%
Timeframe 1-2-3 months
Weekly closing bullish
Trade via infrabees etf
Stoploss below the same breakout candle
Nifty Infra - daily chart Nifty Infra daily chart
- Trend intact HH-HL seen
- within a consolidation box
- Above 50DEMA
- RS strong shows outperformance to Nifty
Only for educational purposes, not a buy/sell recommendation.
NIFTY INFRA WEEKLY CHART Had given 11 yr breakout , keep an eye on stocks like diip buildcon ,ncc , jkil .irb infra .might give 50% return in 1 yr
Nifty Infra - Trend Following MoveNifty Infra is moving inside a channel and recently has faced rejection before reaching 50% of channel body.
