SAMEET CHAVAN,Angel Broking
With the rise of 4.52 percent in Nifty Aati, we saw a gain of 0.82 percent in Nifty last week. We also saw a rise of 2.57 percent in the Nifty Midcap 50 index. However, banking stocks were weak and the banking index had seen a fall of about 0.5 per cent.
If Nifty has to cross 16000 level and cross it, then Bank Nifty will also have to cross 36000 wall. If it doesn’t, we may see some profit-booking this week.
Support for Nifty is at 15700 and 15550 levels. On the other hand, Nifty may face resistance around 15850-15900.
Nifty’s midcap index is also looking at a very important mode at this time. While we do not see any signs of the end of this market bull run, the possibility of a short pause and profit-booking in the market cannot be ruled out.
Investors are advised to keep some money in their pocket and do not trade too aggressively. Bet in select stocks only after adequate risk management.
Today’s 2 calls that can make you earn huge in short term
Caplin Point Laboratories | Buy | LTP: Rs 656
This stock has a buy call with a stop loss of Rs 609 with a target of Rs 750. This stock can see an upside of 14 per cent in 2-3 weeks.
Balakrishna Industries | Sell | LTP: Rs 2,249.50 |
This stock has a sell call with a stop loss of Rs 2316 with a target of Rs 2130. A downside of 5 per cent can be seen in this stock in 2-3 weeks.
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