Technical analysis of L&T seems bullish. It breaks triangle pattern and made a move. Today's (23/08/2023) move is an exception. I thinks this is an anticipation of Chandrayaan 3 landing, where L&T components are used.
NSE:WIPRO underperforming for past one year, as of weekly time frame, wipro touch crucial support.
If weekly candle cross the trend and closed above it. Take position and fix a stop loss at 380. Target 450.
FWB:NSE : IDFCFIRSTB
* Monthly volume of about 907 Mn average shows strong buying pressure.
* Technically on the buying side.
* Fundamentally banks have surplus funds to expand the business.
* One year return of about - 160% gain.
Disclaimer: For Education purposes only.
FWB:NSE : TCS Today Nomura downgraded TCS target from Rs.2830 to Rs.2800. Nifty50 is in ATH and IT is not supporting crucially. July corporate result starts with IT sector. IT has been underplaying for the past 3 months.
Huge shorting in TCS today. If TCS follows the previous day's trend, then the next resistance will be at Rs.3415.30.
@NIFTY50 today support and resistance,
S1 - 16956 ,
S2 - 16850
R1 - 17152
R2 - 17315
*UBS in talk with Credit Suisse , Complete take over of Credit suisse for $1bn dollar - Postive news for banking
* Warren Buffett in talk with fed - regarding banking sector collapse.
But in contrast - Banking sector needs external support to survive -...
Nifty : Trading in range bound region. After corporate results, nifty comes under profit booking. Stock specific action is going on.
R&S : 18050 will act as strong support and 18450 will act as strong resistance.
FII/DII : FII is long with index future of +95 correlation.(long in index future) / DII short in index future.
Sectors : Iron and Steel,...
NIFTY50 : Trading in support zone. Consolidation mode. More rally will be seen after any big positive news to the market.
Global: Mixed market. China said, they will relax lockdown.
Sectors : Automobile.
GLOBAL : Global market is underconsolidation mode and next directional move will come after Fed Minutes.
INDIAN : Today market will be in consolidation mode, further aggressive move will happen after the outcome of Fed Minutes.
18000 will act as an strong support for nifty for this week.!
PCR : 2.28 at 18000.
GLOBAL : Global market expecting Fed will slow down its hke interest rate. (press release on Nov2)
Nifty : Bullish signal, may nifty will takeout all time high if fed slow down its rate hike. Major corporate results are over, only positive global news would take nifty from here on.
Stock : Tata Steel - Reported Negative growth rate ~6%.
Nifty : Facing stiff resistance at 17800, If nifty fails to cross and hold above 17800 we can make bearish sentiment.
Fed meeting in Nov 2. Market will react after the meeting, untill then market will move in sideways. Happy trading