Nifty 30 Jan 23 to 3 FEB 23 Short ,Medium and Long Term
Nifty closed at 17605 ( Prev close 18057)
Nifty in Deep Red Zone due to Hindenberg report Adani Stocks befor FPO and budget.
Q3 Results didnt entralled the investors to the expectation so far, except Banking sector results. Banking sector posted good performance(results) as mentioned in last 2 weeks analysis but the bank index didnt moved much due to the Indian Market Slow down worry. Expect infra push continues in budget.
Currently market is eagerly waiting for budget to prevent any deep fall.
Wait for the market to dip to the support levels mentioned below.
Overall Strategy: Negative till budget & accumulate on dips w.r.t the strict support level given below. Long Term looks attractive. Market may fall from 2-4 % from current level
Nifty short term
Nifty was following range bound action for the last month as specified despite budget expectation. Due to the Adani report, market fell down 2.2 % last week. If it breaks below 17435 (Oct22 High Shown in dark Red line) then next support will be 17290 ( MA 200) / 17000.
Index will be in broader range with high volatality 17250- 17800 till budget.
Investors can Partial profit booking (30%) stocks can be initiated and add value stocks for Long Term when market dips to the above support level.
Medium term target
18250 followed by 18900 is achievable as overall macro economic data is good and now purely depends on the push to be given by budget. If the budget is not meeting the expectation then the Market Range will be 16750 ( Sep 22 low) - 18250 levels.
Long term target 19500 still in intact.
Nifty Bank Index is continuing under oversold zone, Adani stocks exposed stocks like SBI, ICICI, LIC will be consolidating little and opportunity to buy. other bank Stocks like Axis Bank, Kotak Bank, Ujjvan Small Fin bank and BOB looks promising. If nifty moves towards 19500, Nifty Bank will definitely might move to 46500 level from current 42506 little better % than nifty .
sectors like Defence, Infra stocks will be concentrated in budget especially HAL, BDL, Ircon, PNC Infra are good to buy on dips ( 5-10% Correction) incase market fall.
Auto looks promising - Maruti, M&M , Tata Motors are good to buy.
Other stocks - Bajaj Finance ( 5-10% Correction), Infosys, Hind Unilever, Tata Elxsi, KPIT looks promising. Buy on Dips.
Nifty closed at 17605 ( Prev close 18057)
Nifty in Deep Red Zone due to Hindenberg report Adani Stocks befor FPO and budget.
Q3 Results didnt entralled the investors to the expectation so far, except Banking sector results. Banking sector posted good performance(results) as mentioned in last 2 weeks analysis but the bank index didnt moved much due to the Indian Market Slow down worry. Expect infra push continues in budget.
Currently market is eagerly waiting for budget to prevent any deep fall.
Wait for the market to dip to the support levels mentioned below.
Overall Strategy: Negative till budget & accumulate on dips w.r.t the strict support level given below. Long Term looks attractive. Market may fall from 2-4 % from current level
Nifty short term
Nifty was following range bound action for the last month as specified despite budget expectation. Due to the Adani report, market fell down 2.2 % last week. If it breaks below 17435 (Oct22 High Shown in dark Red line) then next support will be 17290 ( MA 200) / 17000.
Index will be in broader range with high volatality 17250- 17800 till budget.
Investors can Partial profit booking (30%) stocks can be initiated and add value stocks for Long Term when market dips to the above support level.
Medium term target
18250 followed by 18900 is achievable as overall macro economic data is good and now purely depends on the push to be given by budget. If the budget is not meeting the expectation then the Market Range will be 16750 ( Sep 22 low) - 18250 levels.
Long term target 19500 still in intact.
Nifty Bank Index is continuing under oversold zone, Adani stocks exposed stocks like SBI, ICICI, LIC will be consolidating little and opportunity to buy. other bank Stocks like Axis Bank, Kotak Bank, Ujjvan Small Fin bank and BOB looks promising. If nifty moves towards 19500, Nifty Bank will definitely might move to 46500 level from current 42506 little better % than nifty .
sectors like Defence, Infra stocks will be concentrated in budget especially HAL, BDL, Ircon, PNC Infra are good to buy on dips ( 5-10% Correction) incase market fall.
Auto looks promising - Maruti, M&M , Tata Motors are good to buy.
Other stocks - Bajaj Finance ( 5-10% Correction), Infosys, Hind Unilever, Tata Elxsi, KPIT looks promising. Buy on Dips.
