Nifty ended its week at 15,860 up by 1.1% on weekly basis and Bank Nifty ended its week at 35,364 up by 2.3% on weekly basis.
In previous week’s article we mentioned that Bank Nifty has a crucial resistance at 35500, which the sectoral index managed to cross on Friday and made a high of 35665 but failed to close above this level and closed at 35488(Future). Banking & financials, metals, auto and select IT stocks lead the rally.
Lets look the the previous weeks top 3 index gainers and loosers.
| Top Weekly Gainers | ||
| Name | LTP | %change |
| Maruti | 7649 | 9.9% |
| Tata Steel | 1165.25 | 6.7% |
| Infosys | 1574 | 4.7% |
| Top Weekly Losers | ||
| Name | LTP | %change |
| Reliance | 2104 | 5.4% |
| Kotak Bank | 1735 | 1.4% |
| Asian Paints | 3003.9 | 1.4% |
Going ahead – If Nifty sustains above 15926 – bulls may regain its strength for the targets of 16226 & 16470. On Downside nifty has a strong support near 15696 / 15726 below which it can go down for targets till 15247.
Bank Nifty showed strength in Friday’s Session and crosses 35500 mark but failed to sustain – If the banking index manages to close above 35500 – 36000 levels – it may test the 38000 mark in near future.
BBTC LTD: BBTC is ready for a breakout on Monthly chart – One can accumulate at CMP (1331) and on DIPS with a SL of 1090 for the targets of 1494 / 1616 / 1737 / 1910 & 2131 Hold the stock for a few months.
Infoedge:
Infoegde after giving a breakout has restested it breakout levels and now ready for another rally. One can buy the stock at cmp (4954) for the targets of 5037 / 5132 / 5228 / 5360 for short term.
