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Stock Market – Market Outlook for this Week ! 25/4/2022

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Stock Market – Market Outlook for this Week !

 

Nifty started the week on a negative note and traded with extreme volatility on either side throughout the week. Nifty closed at 17172 with a loss of 304 points on a weekly basis. On the weekly chart the index has formed a “Doji” candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 17500 level it would witness buying which would lead the index towards 17800- 18000 levels.

However if index breaks below 17000 level it would witness selling which would take the index towards 16800- 16500.

Nifty CMP- 17172

Support- 17000-16500

Resistance- 17500-18000

 

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Stock Market – Tech Stock for this Week- Schneider Electric Infrastructure Limited

On the weekly chart, the stock has decisively broken out its past one year “Rounding Bottom” consolidation (145- 100) on a closing basis indicating continuation of prior up trend. This buying momentum was observed from 20 day SMA (121) and rebounded sharply. The daily and weekly “band Bollinger” buy signal reconfirm positive bias.

CMP-147

Buy Range- 144-140

Stop Loss- 133

Target- 160

Stock Market – Tech Stock for this Week-  Apcotex Industries Limited

 

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On the weekly chart, the stock has decisively broken out “Consolidation Zone” (450-300) on a closing basis indicating resumption of uptrend. This buying momentum was observed from its 50, 100 and 200 day SMA (366) and rebounded very sharply. Rising volumes on a rally implies increased participation at breakout zone. The weekly “band Bollinger” buy signal reconfirm positive bias.

Buy Range- 488-480

Stop Loss- 445

Target- 560

Dear Readers, if you stuck in some equity investment & need expert advice then email us, we will reply on particular stock!

Stock Market 

Vivek Dhumale

SEBI Registered Research Analyst

[email protected]

www.hotshotadvisory.com

 

 

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