In the previous week markets observed flat to positive movement the entire week in the event of RBI Policy and GDP numbers and ended positively up in green. Nifty ended up by 1.5% and Bank Nifty ended up by 0.4%.
Lets look the the previous weeks top 3 gainers and loosers.
| Top Weekly Gainers | ||
| Name | LTP | %change |
| ONGC | 125.45 | 11.7% |
| Adani Ports | 833.85 | 7.4% |
| Bajfinance | 5993.45 | 6.8% |
| Top Weekly Losers | ||
| Name | LTP | %change |
| M&M | 804.60 | 4.9% |
| ITC | 208.75 | 1.9% |
| Infosys | 1385.65 | 1.4% |
In the previous week’s article, we mentioned Tata consumer above 662 for the targets of 675 / 685 & 714 of which the stock has reached till the second target giving approx. 3.5% returns in a week.
Our previously mentioned targets for Nifty were -15,365 / 15,443 / 15,926 & 16,488 out of which nifty has achieved the first two targets and slowly moving towards our third target. Nifty has made a high of 15756 and closed at 15700 ending the session flat to negative at 0.07% on daily basis. In next week nifty will be trading in the overbought zone so one can keep booking profits at higher levels and re-enter on dips.
Our previous targets for Bank Nifty were 35,217 / 36,500 & 37,243 & 37,770 out of which it has achieved first target and made a high of 35960. In coming week if the sectoral index manages to cross this high then we may see the index touching the rest of the targets.
For Next week look at United Spirits Ltd.
The stock is trading near the breakout level on weekly chart (Closing price 629). If it manages to sustain above 640- 645 levels then it may be open for the targets of 675 & 742 levels with a SL of 605.
BPCL Ltd.
On monthly chart the stock is trading near its multiple resistance levels – 490-500 is where the stock is facing crucial resistance. Once the stock manages to close and sustain above 500-505 its targets should be 554 & 695 in a few months.
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