Stock Tips: Better buying opportunity when Nifty falls, chance to earn 8% profit on investment in these stocks

Nifty Outlook: A trading day ago, Nifty’s movement was very sluggish and it closed almost flat. Even today on 9th September there is not much movement in Nifty 50. On the daily chart, it is forming a hammer candle with long lower shadows, which is indicating a buy if the market turns down. Nifty is now going to remain above 17300 and is moving towards 17500 and 17777. On the downside, it is seeing support at 17200 and 17050 levels.

The India Volatility Index has slipped to a level of 14.21. For the market to remain bullish, it is necessary that it remains below the 13 zone. Nifty and Bank Nifty is moving towards new heights and it is getting stronger with the support of Bullish. If it is showing a positive trend in the coming trading sessions, then traders should buy if there is any fall in the market.

Stock Tips: There is a possibility of a rise in Nifty, there is a golden chance of 16% return in a month on investment in these two stocks

Positive trend seen in Bank Nifty

Due to the buying trend in banking stocks, Bank Nifty is showing a positive trend and is moving towards the level of 36850. It has performed better than expected in the last few trading days. Talking about a trading day ago, it closed with a rise of 300 points, although today it is down by about 32 points and it has fallen to 36697.45. A trading day ago, it had formed a bullish candle on the daily chart. If Nifty remains above 36750 then it can move towards 37000-37250 level. It is seeing support at 36500 and 36250 levels.

Golden chance of profit up to 8% in these stocks

In the next few trading days, the market got support from the banking and financial services sector. However, profit booking in IT and media stocks put pressure on the market. Bank Nifty index has further bullish trend and it is moving towards 32750. Talking about individual stocks, investing in Kotak Bank, HDFC AMC, NMIndia, IEX, Trent and ICICI Prudential can earn profits of up to 4-8 per cent in the coming trading days.
(Article: Chandan Taparia, Vice President, Equity Derivatives & Technical, Broking & Distribution, Motilal Oswal Financial Services)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

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