Morning Mantra, 25th November 2021Good Morning,
It seems like the Market is still in an indecisive mode.
Even though we have seen that the index had made a high of 17600.60 approx yesterday, it was somehow very much unable to give a closing of above the levels of 17650-17700 and had finally given a closing of between our stated support levels of 17454 and 17360.
Hence, just as we have stated, it is being expected that the market will somehow stay in a correction mode till the month of December. So, it will be suggested to continue staying stock specific as of now.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Regards,
Alok Daiya
Marketanalysis
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MARUTI SUZUKI.... What should I buy now? We know our market is overheated and our market can correct a bit anytime.
Going ahead, Nifty IT, FMCG, Infra had rallied well. I'm not expecting a major move in these stocks and they are likely to be rangebound.
Nifty metal - looks weak.
Nifty pharma, media, PSU banks - need to breakout.
Sectors to focus on- REALTY ( broken out and more rally to come) AUTO (yet to breakout but looks very good technically), AND BANKS.
I feel in the next two months auto stocks including tyre manufacturers and auto component manufacturers will be the best-performing stocks.
Most auto stocks look good technically. In the cash market, you can buy any auto stock and can expect decent returns in the next two months.
Here, we can see Maruti Suzuki had broken out of the resistance trendline. It is giving a small retracement and will start rallying. Targets are marked on the chart. Happy trading!
** Nifty & Banknifty Trade Setup for 23.09.21 **
Market Analysis & Prediction for 23.09.21 (Thursday ) Expiry On 23 Sept
*******************************************************
* Nifty 50 *
---------------------
Support Area Resistance Area
--------------------------- -----------------------------------
1st Support Area : 17520.20-17536.85 | 1st Resistance Area : 17610.40-17632.80
2nd Support Area : 17421.90-17438.80 | 2nd Resistance Area : 17691.20-17713.10
* BankNifty *
------------------------
Support Area Resistance Area
----------------------------- ----------------------------------
1st Support Area : 37043.60-37175.05 | 1st Resistance Area : 37557.15-37708.25
2nd Support Area : 36805.70-36875.95 |
Btc projections-NOT FINANCIAL ADVICE- also this is my first time posting so the draft might be a bit amateur. let's start-
The current trend should continue for the next 7-10 days barring a major Sell-off, hence we should testing the 58k fib level within August. There could be some sideways action at that level. Then 2 things could happen:-
Bullish projection- All time high around 80k to 100k would be reached by year end with around 65% correction following.
Bearish projection- BTC reaches 56k in august then falls sharply and tests the 200 week moving average/ around 20k.
This is all pure speculation and my personal analysis, this should not be taken as financial advice.