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Shilpa Rout recommends Coal India and SRF in the chemical sector. Nifty s key levels are 22,500 support and 22,800 resistance. Bank Nifty approaches the psychological barrier at 49,000. The Prabhudas Lilladher derivatives analysts further suggests that we should keep an eye on the energy sector as also Vedanta, NMDC and IDFC First Bank. ....
Nifty and Sensex soar to new highs in the financial year 2023-24, with retail investors outperforming institutional ones. Rupak De predicts increased trading activity this week due to F&O contracts expiry and shares top stock ideas. De also says if Nifty fails to sustain above 21,950-22,000, the index might enter a consolidation phase. ....
Aamar Deo Singh says: "Nifty has formed a stalled pattern on weekly charts, indicating that it would meet with immediate resistance around the 21850-21900 zone whereas crucial support is seen around the last weeks high 21450-21500 zone. For Bank Nifty, support is seen around the 47300-47400 zone whereas resistance is around the 48500-48600 zone." ....
“Coming to the intraday perspective, the kind of reversals which we have seen today from 21,400 on the futures and 21,300 on spot, the range for Nifty being 21300-21350 on the downside to 21500-21525 on the upside as far as spot levels are concerned. It would continue to consolidate within 250-300 points range till we get a breakout on the upside, about 21525.” ....
Stay with top quality midcaps and smallcaps that have institutional interest because let us not forget in the last one month grade D and grade E have also done well. Everything is being painted with the same brush and there are Excel sheets out in terms of earnings visibility for the next 10 years which I do not think is a little fair to assess at this point of time.” ....