Sensex today – Market Outlook for this Week!
Sensex today – Nifty started the week with an upward gap and buying momentum for most part of the week led it to close on a strong note.
Sensex today – Nifty closed at 15699 with a gain of 406 points on a weekly basis. On the weekly chart index has formed a bullish candle and remained restricted within previous week’s High-Low range indicating lack of strength on either side. The chart pattern suggests that if Nifty crosses and sustains above 15800 level it would witness buying which would lead the index towards 15900- 16200 levels.
However if the index breaks below 15600 level it would witness selling which would take the index towards 15400-15200
Nifty CMP- 15699
Support- 15400-15200
Resistance- 15800-16200
Sensex today – Tech Stock for this Week-Eicher Motors Limited
On the weekly chart, the stock has witnessed “down sloping channel” breakout around 2800 levels and sustaining above the same. This breakout is accompanied with huge volumes indicating increased participation. In addition, the stock has confirmed tops and bottoms. The stock is well placed above its 20, 50 , 100 and 200 SMA which reconfirmed bullish trend. The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.
CMP-2870
Stop Loss- 2700
Target- 3000
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