vivekkagarwal

vivekkagarwal

At a very good support level here at 33000. Today's low can act as support for the index in near term. If it breaks and closes below in daily TF, we can short IT undoubtedly but with today's candle low as SL, we can trade long for now. With minimum risk, we have max upside potential from here if market stays green & obviously sector remains positive.

vivekkagarwal

Before moving ahead, I would like to clear why I am posting these sector analysis instead of stock analysis is because for taking any trade I first look at broader market first, i.e. Nifty & BNF and its trend. Then I do sector analysis, for example sector which is trending or showing good momentum or support, and then do multiple TF analysis. Then I take a stock...

vivekkagarwal

Before moving ahead, I would like to clear why I am posting these sector analysis instead of stock analysis is because for taking any trade I first look at broader market first, i.e. Nifty & BNF and its trend. Then I do sector analysis, for example sector which is trending or showing good momentum or support, and then do multiple TF analysis. Then I take a stock...

vivekkagarwal

One sector which can outperform the market if it stays bullish is Nifty PSE definitely. Although, the public sector stocks have given good run up till now, but if market supports, this index can reach new ATH as its stocks are highly bullish even after negative trend for the past 8 trading sessions. It is taking support from lower levels and constantly trying to...

vivekkagarwal

Nifty Auto retesting the breakout on Daily TF. Taking support from the levels. Stocks like Hero Motorcorp, Tata Motors, etc. are in good uptrend. Although, Tata Motors fell 8% today because of Q4 results it posted on Friday. But still the other stocks gave good recovery from lower levels in the index along with the broader market index. If it stays positive and...

vivekkagarwal Updated 

Nifty PVT Banks have turned here too. Market has to have financials support if it has to move up. Similarly, if it has to move down, it should have support from the major banks of the indices, as they have huge weightage in both Nifty and Banknifty. This index has also taken support here at trendline same as market indices. We can see a pullback now up to 24093...

vivekkagarwal

Nifty FMCG broke out of falling wedge pattern on 25th April 2024. Its consistently positive since then, it made highs of 56100-200 levels post the breakout. Its trading near its support levels now, can see continued upmove uptill recent level of 56200 and then 57500+ are the ultimate targets it can show as the stocks show positive momentum in the index like HUL,...

vivekkagarwal

Midcap Nifty on daily TF rejected breaking 61.8% in 4/5 continuous trading sessions. It was again and again trying to bounce back from the levels, and it successfully bounces with major upside candle today. Trying to break out of the box upside too, if the buying follows up, we can see new highs on this index again. Only for educational purposes. Do your own...

vivekkagarwal

Nifty also took support from its major support level, i.e. 21800 today. This can act as a good support again too as it completed double bottom on daily charts. Volumes are also good enough so go long with today's low as stop-loss. Fresh shorts will only add up if we break 21780-800 levels with good bearish volumes. It rejected the lower end of the long term...

vivekkagarwal

Bank Nifty is taking support from its long term trend channel. On daily TF, it took support at 46980 while it reversed from upper end of the channel from 49974 few days back, After continuous 8 bearish trading sessions, it retested the lower end of the channel perfectly, and should move up now. The immediate target seems 48170, and then 48500. 48500 is also a 0.5...