Last week was a bullish week for the market. From the first day of the new red in the Indian markets, there is a strong boom. Nifty has been bullish for the last whole week and it is once again looking very close to 18,000. After passing the recent downtrend, the Indian markets have come up well and in just three weeks the NSE Nifty has once again come close to 18000. Good buying is also being seen in small-medium stocks. Market experts say that this week Nifty can touch the level of 18,000 -18,050. This level is also its immediate short term resistance.
Giving his opinion on what should be the trading strategy for the market today, Nagraj Shetty of HDFC Securities said that the short term trend of Nifty is showing strength. However, there can be huge volatility in the market. The bullish signal remains strong. We do not expect any major downside in the market from current levels. Any downside in the market from here will be a good buying opportunity. For this, there is an important support at 17,600. It is expected that the Nifty will rise further from the lower levels. Resistance is visible for Nifty at 17,900.
Ruchit Jain of 5paisa.com says that banking stocks have shown strong strength. In these, this momentum will continue in the future as well. The reason for this is that this sector has started showing a boom after a long pressure, it is expected that this boom will continue. The developments of the IT sector coming from this week will decide the direction of the market in the short term. However, there has already been a lot of momentum in IT before the start of the results, so profit recovery in IT stocks cannot be ruled out. Even if there is a fall in IT, it will not have any major impact on Nifty. Because Bank Nifty will balance this fall.
Today’s intraday call in which you can earn huge money today
Intraday call by Sumit Bagdia of Choice Broking
ACC: Buy at current price, Target – Rs 2375-2400, Stop Loss – Rs 2225
Indiabulls Real Estate: Buy at current price, target Rs -175-180, stop loss Rs-158
Intraday Call by Avinash Gorakshakar of Profitmart Securities
National Aluminum Company: Buy – Rs 110, Target Rs 119, Stop Loss Rs -106.50
Grasim Industries: Buy-1800, Target- Rs.1850, Stop Loss- Rs.1775
Intraday Call by Mudit Goyal of SMC Global Securities
Coal India Ltd: Buy at current price, target Rs-163 with stop loss Rs-154
Cummins India: Buy Current Price Target Rs.-958 Stop Loss- Rs.934
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