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VIKAS JAIN
Senior Derivatives and Technical Analyst,
Securities
Where did the Nifty go this week?
India’s VIX is at a one-year low, sub-14 levels, indicating some consolidation at current levels for the Nifty trading in the 18,400- 18,900 range in the next few weeks. The gap level near 18,450 and the short-term average at 18,450 will be strong support. We expect the upside to be capped near 18,900 with key events such as RBI policy and the US FOMC meeting in the coming weeks.
What should investors do?
Add weight and allocation to Nifty Next 50, midcaps, and small cap stocks as they have yet to scale new all-time highs leading to outperformance at current levels. The Nifty Smallcap index witnessed a breakout on the weekly chart. We like Ashok Leyland, LIC Housing Finance, Voltas, Havells, Crompton, SBI Cards, Chola Finance,
and from the current level
MEHUL KOTHARI
AVP – Technical Research, ANANDRATHI SHARES
Where did the Nifty go this week?
Technically, the move above 18,350 on a closing basis confirmed a major breakout with a theoretical target of around 21,000. However, due to too much uncertainty in the global space, we do not expect the movement to be unilateral. 18,350 will be a major support. Conversely, a breach of 19,000 would extend this rally to 19,300.
What should investors do?
We have focused on individual stocks that can be implemented with market trend opinions, but one big solution is needed for better risk reward in the long run. Traders are advised to maintain specific stocks. Buy
Near Rs 535 for target Rs 575 with stop loss Rs 515. Buy Voltas near Rs 850 for target Rs 900 with stop loss Rs 820.
PRITESH MEHTA
Senior Vice President – Research, Yes Security
Where did the Nifty go this week?
Our custom top 10 Nifty index consisting of highly weighted Nifty components has risen since October, trading above the 21-day EMA. A break below the same would result in a short-term pullback in the index. The agitation is expected to continue for the next few weeks, suggesting that leaders New. According to the P&F chart, the Nifty countdown continues to open around 19,300, but we are likely to see a range action between 18,500 and 18,900 in the short term.
What should investors do?
Performance has picked up in midcaps as the ratio of midcaps against the Nifty has reversed the presence of a support zone, which indicates a movement that can be captured by midcap stocks. Within the package, the positive structure and efficiency expected in AB Capital, Astral,
, and L&T FH more than 10%.
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