I have created a video on Bank Nifty analysis, and it appears to be showing weakness on the daily time frame. The price is currently facing strong resistance from its all-time high levels, which led to a notable fall on the last Thursday and Friday.
In the video, I have shared marked support and resistance levels, demonstrated on a 5-minute time frame. These...
As i had already explained on last Friday Youtube video. We will see a fall/selling/profit booking on Monday (13-Feb-2023) and after that we will again see a bullish movement up-to 18100 (next supply zone).
Means 2-3 day Nifty will be bullish and price will try to reach up-to supply zone.
Stocks for swing trade.
1. IGL - looking good for buy
Logic for buy - Weekly candle sustain over EMA's 11,20 & 100. Positive green candle creation is going on weekly time frame.
Buy at @CMP for 1st safe target is 460 and then 490.
Logic for buy - On weekly time frame strong week candle is going on.
Hindalco Industries Ltd Shareholding Pattern is stable. Good for long term investment.
Buy above 500 price and hold for 630 target. Analysis is based on 125 min time frame. See the chart and take decision after on own analysis.
Company is expected to give good quarter.
Company has delivered good profit growth of 47.5% CAGR over last 5 years.