Intraday study for Indian indices for 26 December 2022
Hi Good Morning
The market fall due to covid News and tested its 100 DMA and in worst scenario we may couple with the Dow's which is near to the years low and there is a holiday session in the global market so we will witness the low volume sessions from today the global markets are closed for now the SGXNIFTY indicting the pullback but the preopen didn't shows that the level will not work in the market which is news driven so i will not mention the precise level and the health care sector and the food and beverages may give up move as the New year holiday
Now we talk about the nifty and banknifty
NIFTY:--
The 100 DMA is at 17831 which is a important level which gets broke by the market in the last session and give the close below that level if reconquer the level of 17950 we will see the good upmove in the indices
Banknifty:--
The banknifty fall much in two sessions and we may see the recovery if the heavy weights perform good as the base is at 41300-41500 level
Sector and Stocks:--
The defensive and pharma is looking good for upside for buying on dips levels
The buying on dips is advisable in the market
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
The market fall due to covid News and tested its 100 DMA and in worst scenario we may couple with the Dow's which is near to the years low and there is a holiday session in the global market so we will witness the low volume sessions from today the global markets are closed for now the SGXNIFTY indicting the pullback but the preopen didn't shows that the level will not work in the market which is news driven so i will not mention the precise level and the health care sector and the food and beverages may give up move as the New year holiday
Now we talk about the nifty and banknifty
NIFTY:--
The 100 DMA is at 17831 which is a important level which gets broke by the market in the last session and give the close below that level if reconquer the level of 17950 we will see the good upmove in the indices
Banknifty:--
The banknifty fall much in two sessions and we may see the recovery if the heavy weights perform good as the base is at 41300-41500 level
Sector and Stocks:--
The defensive and pharma is looking good for upside for buying on dips levels
The buying on dips is advisable in the market
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
Comment:
i am studying the HDFC bank this weekend i found may be there is a flag in it and ready for 6% up move but market need to recover for that market has to crosses the level of 17950
Comment:
once sustain above the 1644 then it is confirmation of flag breakout and the next target is at 1710 ---HDFCBANK
Comment:
NOW CROSSING 10DMA NEED TO SUSTAIN ABOVE THAT
Comment:
I HAVE PERSONAL POSITION IN IT
