Friday, December 9, 2022
HomeબિઝનેસStock Market NewsDaily Stock Insights by Mr. Zanil Shah

Daily Stock Insights by Mr. Zanil Shah

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To start with, month of September was full of volatility. Nifty opened at 17552 and made a high of 18123 after which it tumbled down to a low of 16764 amid global concerns of rising inflation and recession (erased almost 1360 points from its monthly high) and settled at 17103.

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Coming to the last week of the September i.e. 26th  to 30th September nifty opened with a gap down at 17211 on Monday and made a low of 16764 on Friday and gave a sharp recovery after the RBI announced a rate hike of 50bps. Nifty recovered the entire weeks fall in just one day making a high of 17210 and closed at 17103.

Going ahead in the coming week and coming month, nifty first has to fill a small gap of 79 points and sustain above the same. 16908 remains important level for the month of October. On downside if it breaks 16908 then it may test 16760 / 16435 / 16230.

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Bank Nifty opened at 39006 and made a high at 41855 and settled at 38807 in the month of September. BankNifty’s previous high was 41820 (29/10/2021). On Friday showd a good recovery from its low 37580 to a high of 38988 and closed at 38807 near its 50 DMA.

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In coming week and coming month 37950 remains a important level.

Mentioning a few stocks to look for in the coming week.

 

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