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stock market – Market Outlook for this Week !

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stock market – Market Outlook for this Week!

stock market – Nifty started the week on a flat note and buying momentum throughout the week led it close on a strong note. Nifty closed at 17670 with a gain of 517 points on a weekly basis. On the weekly chart the index has formed a sizable bullish candle and closed above  previous week’s high indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 17700 levels it would witness buying which would lead the index towards 17800- 18000 levels. However if index breaks below 17500 level it would witness selling which would take the index towards 17400- 17300.

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Nifty50 CMP: 17670

Support: 17400-17000

Resistance: 17800-18000

stock market  – Tech Stock for this Week- Mahindra & Mahindra Limited

On the weekly chart, the stock has sharply rebounded from its two years “multiple support” zone of 730-720 levels indicating strong come back of bulls. This buying momentum was observed from 20-day SMA and rebounded sharply. The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.

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CMP: 825

Buy Range: 800-820

Stop loss: 781

Target: 870

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

Vivek Dhumale

SEBI Registered Research Analyst

[email protected]

www.hotshotadvisory.com

 

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