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Nifty 50 Weekly Market Outlook: July Week 1, 2023 On Daily charts, we observe that a new channel trendline has been adjusted after previous week’s rally and a new bandwidth line between the lower and upper bound has been redrawn too. Last week rally is breakout above bandwidth resistance ( Support point now: 19,042) which will act as a first support moving next week. On higher levels we can see a rally upto 19,317 which is the channel resistance point, although less likely on grounds that Weekly charts show rally to ATHs has been on a declining volume and rising prices since last week of May 2023, indicative of weak price action and definitely after breaching a psychological resistance we expect a profit booking from current levels. So outlook is to watch till 19,317 but expect profit booking simultaneously. Lower levels stay intact at 19,042 as first resistance which is centre/bandwidth point of channel and a breach below this point will push the index to 18,896 undoubtedly. There’s a consolidation between 18,734 – 18,896 which we expect to hold index in case of further drawdown.
NSE:NIFTYShort
by chandakpulkit
1
KARUR VYSYA : FINALLY THE WAIT IS OVER NOW.... Pole and Flag Break out pattern seen in Karur Vysya Bank, that to in an Uptrend. On a long run to make another life time high after Sep 18, 2017 . Strength of 6 years will not go in vain so easily as this stock is currently in hot list of all big players with One of the least PE of 3.47 only in the industry One of the lease PB Ratio of 0.91 only in the industry and Consistently increase ROE of 13.60% A 100% buy signals from my view. But please do your own analysis before investing into this stock. This view is only for educational purpose and hold no BUY or SELL call tip. However , I have marked the probable targets and Stop Loss on the chart for better understanding. Good Luck !!
NSE:KARURVYSYALong
by chakraveer1104
GMM Pfaudler Ltd - short term trade setupWhen we talk about market trends, we use the term "momentum" to refer to the speed at which prices are changing. If a market is experiencing a bullish event, that means that prices are rising and we can see that there is an upward momentum in GMM Pfaudler Ltd. Momentum is important because it helps us gauge the strength of price trends. The chart is for educational purpose, buy zone and targets are marked. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
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by hardeepssethi
1
EXIDE INDS - 42% RETURNS!!!BUY - EXIDE INDUSTRIES CMP - Rs. 183 Target - 1: Rs. 212 Target - 2: Rs. 260 . . Technical - 1) Double Bottom Pattern (before breakout). 2) Bullish Flag Breakout 3) Targets have been set using previous swing highs and Gann Fan. . . Fundamentals - 1) The automobile batteries manufacturer has bought 24.80 lakh equity shares in Ulric Renewables, at a price of Rs 80 per share, amounting to Rs 19.84 crore. With this investment, its shareholding in Ulric Renewables stands at 39.08%. 2) Strong annual EPS growth. 3) Growth in Quarterly net profit with increasing profit margin (YoY). 4) PE = 3.39 < SECTOR PE = 5.30 5) FII holding has risen by 1.33% in December 2022. 6) DII holding has risen by 1.7% QoQ. . . This opinion is for educational purposes. I am not SEBI registered and this is not an investment advice. As with any trade, always look first, then leap.
NSE:EXIDEINDLong
by nilakshgupta