On the higher end, resistance is visible at Rs 1,100.īPCL: Buy | LTP: Rs 330 | Stop-Loss: Rs 322 | Target: Rs 345 | Return: 4.5 percent A sustained trade fall below Rs 1,080 may trigger further corrections towards Rs 1,040. The momentum indicator is in bearish crossover. Besides, the stock has sustained below the critical short-term moving averages on the daily chart. The stock has given a rising trendline breakdown on the daily timeframe, suggesting a rise in pessimism. HCL Technologies: Sell | LTP: Rs 1,080 | Stop-Loss: Rs 1,100 | Target: Rs 1,040 | Return: 3.7 percent On the lower end, support is visible at Rs 81.40. Over the short term, the stock is likely to move towards Rs 90. The momentum indicator is in bullish crossover. The stock has sustained above the critical moving averages on the daily chart. Besides, the rally was backed by a rise in volume. The stock has given a consolidation breakout on the daily chart, suggesting a rise in optimism. National Aluminium Company: Buy | LTP: Rs 83.70 | Stop-Loss: Rs 81.40 | Target: Rs 90 | Return: 7.5 percent Here are three buy calls for next 2-3 weeks: On the higher end, resistance is visible at 39,500. A fall below 39,000 may trigger further corrections towards 38,800-38,500. On the other hand, a decisive fall below 16,950 may trigger panic in the market and send the Nifty towards 16,750 and lower.īank Nifty has sustained below the critical short-term moving averages on the daily chart. On the higher end, recovery towards 17,200 looks possible where a significant amount of Call writing is visible.Ī decisive move above 17,200 may induce a further upward move towards 17,400–17,460. However, on the lower end, the index has fallen towards the lower band of the falling channel, which may lead to a small bounce in the near term. A move below the 200DMA is considered long-term bearish. The global equity sell-off was triggered by the US banking crisis, which pushed the benchmark Nifty below its 200-day moving average (17,447). Nifty has fallen in value for the last five days in a row as bears have been controlling the market.
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