I hope you are in the house waiting for news of control of the NOVEL COVID-19, and also thinking why my portfolio is getting deteriorating.
As stock markets touching new 52-weeks lows everyday, Do you know that the highest fall in stock market was in 2008, which was 65% from it's peak. That was because of financial crisis: companies do not have...
After too deep push by Bears, Bulls have open their eyes and with full power tried to defeat the bear.
In this battle will Bulls survives some more days? i guess so..
As per my view the market should breach 9100 level till this expiry, another important level is 10000 which would be too difficult to break.
The market looks bullish for short term(1-2 Weeks) but...
As per my analysis nifty have closed on daily candle below a crucial support of 9119 further down move is expected by 10% (8100).
at that level nifty P/E will be around 18 which is considered good as investment perspective (more than 2 years).
if on closing basis nifty recovers and closed above 9120 it may consolidate between 10000 and 9000 levels.
PEL after double bottom - during retrenchment, did't cross confirmation level and also reached lower than first bottom in double bottom pattern.
As we can see currently PEL is critical long term support (from Jun 2016)
We can expect bounce back or further fall if breaks support level.
Add to watch list ...
This is Raghu !
I am predicting the future levels of
SBIN (State Bank of India) will be on 24-2-2020 (Monday)
This is only my point of view !
Maximum the market will raise upto 330.60
which acts as a Major Resistance
and 319.80 will be acted as MAJOR SUPPORT for the day !
You can use middle levels for scalping.
Good to add around 3285-90
for the upcoming levels of 3450+
Good to hole for long term positional may be next a bajaj finserv in coming years.
twitter - @TheSachinJain
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