The market made history in the week ending October 14. This week Nifty closed above 18000. At the same time, the Sensex went above 61,000. The market saw a rally for the second consecutive week. Last week, except IT, all the segments saw a rise. Auto stocks rose strongly on expectations of a pick-up in demand during the festive season. On the other hand, banking stocks were also bullish on the back of good credit growth data and strong provisional numbers for Q2.
Last week Sensex-Nifty closed at record closing high. BSE Sensex closed above 61,000 for the first time with a gain of 1,246.89 points or 2.08 per cent. At the same time, Nifty50 crossed the much-awaited 18000 level and finally closed at 18,338.55 with a gain of 443.35 points or 2.48 per cent. It also touched the level of 18,350 during the week.
So far we have seen strong uptrend and so far it has outperformed all our estimates. The market is currently seen in the Uncharted Territory. So now it is difficult to predict the upper levels of the market. The level of 18500 seems to be an important psychological level for the market. After that every 100 marks should be considered as its next level.
Support is visible for Nifty at 18,200 and then at 18,000 level. As long as Nifty remains above 18,000. The market rate will remain in the hands of the bulls. But avoid being careless in the market. Avoid being too aggressive. Stick to the strategy of betting only on select quality stocks.
Today’s 10 technical calls in which you can earn huge money in 3-4 weeks
Investment Advice by Subhash Gangadharan of HDFC Securities
Adani Ports:Adani Ports: Buy | LTP: Rs 812.80 | Buy this stock with a stop loss of Rs 750 and target Rs 960. This stock can give a return of 18.1 percent in 3-4 weeks.
Lakshmi Machine Works: Buy | LTP: Rs 9,032.80 | Buy this stock with a stop loss of Rs 8,500 and target Rs 10,600. This stock can give a return of 17.4 percent in 3-4 weeks.
Redington India: Buy | LTP: Rs 153.25 | Buy this stock with a stop loss of Rs 144 and target Rs 177. This stock can give a return of 15.5 percent in 3-4 weeks.
Investment Advice by Shrikant Chauhan of Kotak Securities
SBI Card: Buy | LTP: Rs 1,134.95 | Buy this stock with a stop loss of Rs 1,080 and target Rs 1,300. In 3-4 weeks this stock can give a return of 14.5 percent.
Coal India: Buy | LTP: Rs 183.80 | Buy this stock with a stop loss of Rs 170 and target Rs 220. This stock can give a return of 19.7 percent in 3-4 weeks.
Bajaj Finance: Buy | LTP: Rs 7,862.90 | Buy this stock with a stop loss of Rs 7,740 and target Rs 8,250. This stock can give a return of 4.9 percent in 3-4 weeks.
Investment advice by Vigyan Sawant of GEPL Capital
ITC: Buy | LTP: Rs 256.55 | Buy this stock with a stop loss of Rs 230 and target Rs 310. This stock can give a return of 21 per cent in 3-4 weeks.
Tata Consumer Products: Buy | LTP: Rs 849.60 | Buy this stock with a stop loss of Rs 796 and target Rs 960. This stock can give a return of 13 per cent in 3-4 weeks.
Federal Bank: Buy | LTP: Rs 93.10 | Buy this stock with a stop loss of Rs 85 and target Rs 110. This stock can give a return of 18 per cent in 3-4 weeks.
Investment advice from Sameet Chavan of Angel One
HBL Power Systems: Buy | LTP: Rs 54.70 | Buy this stock with a stop loss of Rs 49.80 and target Rs 61. This stock can give a return of 11.5 percent in 3-4 weeks.
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