Stock Market – Market Outlook for this Week !
The chart pattern suggests that if Nifty crosses and sustains above 17400 levels it would witness buying which would lead the index towards 17600- 17800 levels. However if the index breaks below 17100 level it would witness selling which would take the index towards 17000-16800. For the week, we expect Nifty to trade in the range of 17800-16900 with a positive bias.
Nifty50 CMP: 17194
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Stock Market – Tech Stock for this Week- Atul Ltd.
Rising volumes on this rally signals increased participation at lower levels. This buying momentum was observed from 100-day SMA and rebounded sharply. The stock is well placed above its 20, 50, 100 and 200 day SMA which reconfirms bullish sentiments. The above analysis indicate an upside of 10700-10844 levels. Holding period is 3 to 4 weeks.
Buy Range: 10100-10250
Stop loss: 9721
Target: 10700 / 10844
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SEBI Registered Research Analyst