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In the previous week the NIFTY closed at 6056. The NIFTY opened at 6110 high for the week was 6141 and low was 5972. Total loss for the Nifty was 84 points. After the two weeks of selling from the highs of 6342, the NIFTY took support around the 6000 mark.
BANKNIFTY is slightly stronger than NIFTY, because it has covered its major weekly loss on the last trading day of the week. NIFTY was down 2 percent for the whole week, whereas BANKNIFTY is down less than 1 percent.
Top Five Socks:
- ITC has been falling from last 4 weeks. It has come near support. We may see reversal in this stock vary soon.
- Reliance is just performing like NIFTY. Reliance is slightly weaker than NIFTY.
- INFY is nearly 100 points away from its all time highs. But it looks like it is making a distribution from last 5 weeks.
- HDFC is near support and it may see reversal very soon. Its recent high was 864.90 and now it is trading near 793.
- ICICIBANK is the stock that has recovered its all the loss, which it had made during the week. It looks strong among banking stocks.
In the coming week, INR should remain weak against USD. NIFTY may move a bit higher and then it may face resistance.
A mid cap stock FINPIPE is making life highs. This stock is in long term bull run. Because it is a mid cap stock, one should remain cautious while putting huge money in it.
You can ask any question in comment section, I will try to give my view. Please point out where I am wrong. This will help me in improving myself.
In the previous week the NIFTY closed at 6056. The NIFTY opened at 6110 high for the week was 6141 and low was 5972. Total loss for the Nifty was 84 points. After the two weeks of selling from the highs of 6342, the NIFTY took support around the 6000 mark.
ReplyDeleteSilver futures were trading higher in the domestic market on Tuesday taking positive cues from the global market.
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