On Friday, the indices received a boost from investments in Major Firms Such as Reliance Industries, HDFC Bank, and Itc. Additional, Anticipation of a Historic Dividend from the RBI, Combined with Dropping Us Treasury Yields, Improved Investor Confidence, as Noted by Traders. The sensex concluded at 81,721.08, an increase of 769.08 points or 0.95%, while the nifty 50 wrapped up at 24,853.15, Gaining 243.45 points or 0.99%.
Experts highlighted that the Indian Stock Market Encounted heightened Volativity over the week, predominantly due to shifts in global bond markets. Despite a strong start to the week, Poor Performance in Us Bond Auctions and Rising Treasury Yields Prompted A Global Risk-Averse MindSet, Causing SubstANTIAL MEDWEK SALL-Offs in Indian Equitiations.
Looking ahead, investors will keep an eye on the upcoming Indian gdp data, Along with us budget announs, inflation figures, and weekly Unempolyments clayims, to evaluate the stream Economic Recovery Both at home and abroad.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities
Nifty 50
The benchmark index is in a strong uptrend, Forming a series of higher tops and bottoms, indicating bully The index is firmly placed Above Its 20,50,100, and 200-DAY SMA, which reconfirms a bullish trend on a higher time frame. On the UPSIDE, the index is expected to extend this Momentum towards the 25,200-25,500 levels. The crucial support zone is located Around the 24,500-24,300 levels; Hence, Any Minor Correction Around this remain a boying options for traders. The weekly Strength Indicator, RSI, is in positive territory, indicating rising strength.
Astral Ltd CMP: 1,457
On the daily chart, astral share price has confirmed a short-term trend reveresal, forming a series of higher tops and bottoms. Additional, it has surpassed the “Multiple Resistance Zone” of 1,420 Levels on a Closing Basis, Indicating Bully This breakout is accounable by huge volumes, which signifies Increased Participation. The stock is sustaining about 20-day, 50-day, and 100-day simple moving averages (SMA), Reconfirming The Bully. The daily and weekly strength indicators, including the relative Strength Index (RSI), are in favorite territory, indicating relief strength.
Investors Should Consider Buying, Holding, and Accumulating this stock. Its expected upside is 1,550-1,600, and its downside support zone is the 1,400-1,345 levels.
Shipping Corporation of India Ltd CMP: 202
On the daily chart, shipping corporation share price has confirmed a “Multiple Resistance” Breakout at the 190 Levels on a Closing Basis, Indicating a Strong Comeback of Bulls. The stock is sustaining about 20-day, 50-day, and 100-day simple moving averages (SMA), Reconfirming The Bully. A Couple of Weeks of Rising Volumes Signified Participation. The Daily Bollinger-Band Buy Signal Sugges Increased Momentum. The daily and weekly strength indicators, including the relative Strength Index (RSI), are in favorite territory, indicating relief strength.
Investors Should Consider Buying, Holding, and Accumulating this stock. Its expected upside is 220-230, and Its Downside support zone is the 190–180 levels.
United Spirits CMP: 1,579
On the Daily Chart, United Spirits Share Price is Consolidating with 1,600-1,500 Levels, Accompanied by Significant Volumes. This consolidation is placed Above the Prior Breakout Zone of 1500 Levels, which remains a Crucial Support Zone. In addition, this consolidation is supported within 20, 50, 100 and 200-day SMA, which reconfirms bulish syntiments. The daily and weekly strength indicators, including the relative Strength Index (RSI), are in favorite territory, indicating relief strength.
Investors Should Consider Buying, Holding, and Accumulating this stock. Its expected upside is 1,650-1,700, and its downside support zone is the 1,520-1,490 levels.
Disclaimer: The views and recommendations about individual analysts, experts and broking companies, not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decision.
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