In the last week of September, on Monday Nifty opened at its all-time high level at 18088 and it plunged by 655 points to a low of 17433 and settled at 17530 levels down by 1.80% on weekly basis. Bank Nifty also made a new high at 38395 but failed to sustain corrected till the level of 36950 and settled at 37356 down by 1.32% on weekly basis.
Lets look the the previous weeks top 3 index gainers and loosers on Weekly basis.
| Top Weekly Gainers | ||
| Name | LTP | %change |
| Coal India | 188.70 | 13.6% |
| NTPC | 139.90 | 12.6% |
| Power Grid | 191.85 | 8.9% |
| Top Weekly Losers | ||
| Name | LTP | %change |
| Tech M | 1371.25 | 9.5% |
| Asian Paint | 3177.85 | 7.9% |
| Bajaj Finserv | 17177 | 7.3% |
Nifty:
In previous weeks letter I had mentioned that nifty is highly overbought and has formed a negative divergence whose effect was seen in the last week of September where it made a low of 17433.
For the Month of October 18088 remains a top for nifty from where the index a plunged to a low of 17433. For the coming week Nifty’s immediate support levels are 17400 and 17256. 17256 is a very important support for the index if it breaks 17256 level then it may test 16745 levels. On upside 17750 remains important level for nifty this week. Any longs can be made above this level.
Nifty’s OI Data suggests
Call:
Highest OI data is at 18500 followed by 18000 / 17700 levels
Put:
Highest OI data is at 17400 followed by 16500 / 17500 levels.
Bank Nifty:
In Friday’s session Bank nifty has made a low of 36950 and recovered all the losses and closed at 37356 above short term trading average. Bank nifty has given up almost 1500 points in 1 week. For bank nifty may bounce back till 37770 levels in coming week which is important resistance for the index. If it sustains above that then it may test 38100 / 38500 levels. On down side it has a good support at 36950 levels. Below which it may test 36600 / 36250 levels.
Bank Nifty’s OI data suggests that
Call:
Highest OI data is at 38000 followed by 40000 / 37500 levels
Put:
Highest oi is at 37000 followed by 36000 & 36500 levels.
Dixon:
In Friday’s session the stock has crossed the previous high with volumes cmp 4844. In coming weeks it may continue its rally for a target of 5093 and above on can add this stock at cmp and on dips till 4650 levels.
From the Month of October following new stocks are included in the F&O segments:
- Abbott India
- Crompton Greaves
- Dalmia bharat
- Delta Corp
- India Cement
- Oberoi Realty
- Persistent Systems
From the Above Stocks Abbott has witnessed good volumes in last two sessions of the week
Abbott India:
Abbott has closed at 22031 making a new all-time high at 22569. Buy the stock on dips till 21615 & 20910. For the targets of 23107 / 24600 levels.
Delta Corp:
Delta Corp has also witnessed high volumes in last few days and also the stock has closed at its important resistance near 282. On weekly chart it has closed near it imp levels. Buy this stock for a period of 1 year if the stock sustains above this level then it may be open for a targets of 347 & 417 in near term.
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