Last week Nifty again made new all time high of 9673, at last Monday Nifty opened at 9560 and after making low of 9547 it hold this level for whole week and finished at 9653. Capital Goods, Housing Finance and Finance share was the strong movers of Nifty while according to daily chart Volatility is decreasing while it has evening star pattern on daily chart so in next session we can see intraday correction where 9600-9570 will be good level for buy for target 9700 9800 with SL of 9550.
As compare to Nifty bank nifty was weak in previous week because of Private and PSU banks not giving rally simultaneously and it created ascending triangle on daily chart for that we can see around 300 points rally after breakout but around 23650-23700 bank nifty may test strong resistance so we advise to sell on rise around 23600-23650 for target of 23400-23100 with stop loss of 23800.
Last trading session TVSMOTOR Future given under performance in all auto stocks. And ended with bearish candlestick in daily chart, And since last session it rose with rising OI in short side, It’s indicate future go downside ahead, we will advise to sell around 550 for the target of 540-530 with stop loss of 560.
Looking at the daily chart of the APOLLOTYRE Future it has been clearly seen that the stock is bullish which it has cross major resistance level and ended near major resistance level, So Buying Future around 235-237 can be done for the targets of 240-245 with a stop loss of 232.
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