- May 17, 2021
- Posted by: malay.gandhi70@gmail.com
- Categories:
Last week witnessed choppy movements in sectors, Nifty Metal and Nifty Pharma closed lower by 1.28% and Nifty Metals 3.76% respectively, these indices are indicating a halt in upward march, I have a Negative bias on these sectors.Short term pullbacks in stocks in these sectors is not ruled out but a sustained up move beyond recent highs is not expected.
Advice to hold the stocks recommend previously.
Reliance and Bata are below Cost.
Federal, Sbi, Icici Bank,Baja Auto,Bosch,McDowell, Maruti are near or above cost.
Profits booked in the following stocks on an average greater then 10% are
TCS, HUL,NESTLE,SUN PHARMA, DR REDDY, LUPIN.
Sectors to be kept on radar for bullish action are Auto, Pvt Banks, Psu Banks, Fmcg, Alcohol and Power.
Stocks Showing Bullish Momentum are
COAL INDIA…SUPPORT 136/125….TARGET 165/180/215.
ITC….SUPPORT 196….TARGET 245/270.
NTPC SUPPORT 107/97….TARGET 125/146.
MCDOWELL….SUPPORT 546/541…..TARGET 689/700/740/816.
INADIA VIX AND RUPEE MOVED AS PER EXPECTATION AND ARE NOT INDICATING ANY ADVERSE MARKET MOVEMENTS AS OF NOW.
MAJOR SUPPORTS FOR NIFTY ARE AT 14590/14400.
RESISTANCE SEEN AT 15044.
MAJOR SUPPORTS FOR BANK NIFTY SEEN AT 31800/30400.
RESISTANCE SEEN AT 33260/34360.
