Based on it our strategy should be to buy on dips at key support levels. It is forming a series of rising tops and rising bottoms. Returns are based on the April 21 closing prices:Įxpert: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securitiesĭalmia Bharat: Buy | LTP: Rs 1,922 | Stop-Loss: Rs 1,820 | Target: Rs 2,150 | Return: 12 percent Let's take a look at the top 10 trading ideas by experts for the next three-four weeks. Hence, one needs to have a stock-centric approach for better trading opportunities, he advised. Given the ongoing earnings season, Osho Krishan expects strong moves in the broader markets. ![]() Highest open interest is at 17,700 strike on the Call side and 17,600 on the Put side and till the time Nifty is in this range, it is expected to remain sideways, he added. The coming couple of weeks are of extreme importance as they will decide the trend for the next leg, he said. Mitesh Karwa, research analyst at Bonanza Portfolio, also feels the Nifty50 is expected to trade with a bullish-to-sideways bias in the coming week as the bulls are absorbing every dip in the market. "Amid the price-wise correction in the market, the chart structure construes optimism, and it is highly anticipated to continue the cheerful run in the upcoming week," Osho Krishan, Senior Analyst - Technical & Derivative Research at Angel One, said.Īs far as levels are concerned, he feels that till the index firmly withholds the pivotal support of 17,500, there is no sign of caution in the market, whereas on the higher end, 17,700-17,800 holds stiff resistance and a decisive move beyond which could trigger the next leg of rally in the comparable period. These levels are expected to be crucial for further direction of the Nifty50 going forward and, if the index manages to hold 17,500-17,600 area, then 18,000 can be a possibility in coming sessions, experts said. Also on an intraday basis, it has taken a support at 200-day EMA (exponential moving average - 17,530), while on the higher side, it has faced resistance at the 17,700 levels. The Nifty50 fell more than 200 points to close at 17,624 and formed a bearish engulfing pattern on the weekly scale, which is a negative sign, but the index managed to hold on to the 17,600 level, despite correction and volatility. ![]() ![]() The market closed lower for the first time in last four weeks with the benchmark indices losing more than 1 percent in the week ended April 21, majorly dented by a selling pressure in technology stocks.
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