WEEKLY 23-1-2023

Jan 23, 2023

Banknifty is in uptrend, its Montly and weekly RSI is 64 and almost 60 respectively. Daily RSI taking support @ 40. Its a good buy for swing and positional view. Major support near 41800- 42000 and specific SL below 41635. Banknifty is trading in a long channel and is currently at lower end of the channel. Further for last 3 weeks its is within a range and is not moving in any direction. I can sense a big move ahead.

Finance nifty is similar to Bank nifty and its major support levels are 18550 - 18600 and SL below 18500 levels

Stocks to watch for positional view
MINDACORP (breakout of triangle on weekly chart) Strict SL below 210 and TGT can be 256-268
INDIGO (Breakout abv 2070) SL below 2030 and TGT can be 2271
Godrejconsumer (Breakout of Ascending Triangle on weekly chart) SL below 900 and TGT can be 955-970

Stocks for Swing are
SIEMENS SL Below 3000 tgt 3240-3320
SBIN SL below 575 TGT 610- 628
HAL SL below 2430 TGT 2564 - 2620

Previous Week Positions.

LT -- TGT achieved
mphasis stoploss triggered

ABCAPITAL --- still open TGT 170+ SL below 138
TATACOMM ---- Still Open TGT 1460 SL below 1310



Please seek professional advise before investing. The views expressed are personal opinion of author for his study purpose (records) only and author is not a professional advisor on the subject. Author shall not be personally responsible for loss / discrepancies if any arising out of the above report