BankNifty - Shall take long approach. This quarter also banks will be having good business. Unless there is some Black Swan event, I am on the long side on Bank Nifty. It is taking support at 40900 odd level. Before taking trade watch the movement on 31 Oct 2022 session.
USDINR - My bet will be in Long side for a target of 84 in 3-4 months positional trade. In short term it will be having strong resistance at 82.4 and will consolidate for few days. Currently it is making flag pattern on daily chart with high probability of going higher in few trading sessions.
Dow Jones going to be opening lower than 30165 and will see levels of 29680 and 29420 on 17th Oct 2022. Sell on each rise in Dow Jones is the preferred trade.
Buy Ambuja Cements at dip around 520-525 for swing target of 580.(Only for educational purpose)
Will sell Godrej Properties as it has made M pattern and there is weekness in the chart. Rising interest rates in India and upcoming recession in US will reduce the disposable income, higher loan rates and people will delay buying properties. All these factors will add dampener to the property market and therefore selling on each rise strategy will make much more sense.
Ashok Leyland is on a break out level at 2018's high. It will retrace now to 152-148 level in short term before making another high or low. Next few trading sessions will be interesting to watch. I will buy once it retrace to range of 156-140 for 3-6 months time.
Concor is in a very long consolidation phase and can give breakout on upper side any day. If it breaks 760, targets will be 800-850. Accumulate at lower levels as it is a good dividend payout company too.
BANKNIFTY is at crucial level of 38000 and seems stretched, from here there is tight space to move up and result season is almost over. There could be some retracement so advice would be to wait and watch for the direction in next few days before taking any trade or experienced traders can SELL it on Higher levels of 38500 or 39000 for target of 37500 - 37000 with...
NIFTY can touch 17500 - 17600 in next 2-3 days before retracing back to 17200 - 17100 levels. One need to be cautious and hedge properly to trade considering the geo-political developments around world.
Reliance - Profit can be booked at 2600-2620. Fresh Buy on pullback in range of 2490-2520 for long term profits.
Pidilite in upward trend can be bought for short term gain for a target of 2525-2530.
It will be interesting to watch Kotak Bank and its closing specially. If it closes above 1860 and stay there for a day or two, can be bought for a short term target of 1945.
It will be interesting to watch Kotak Bank and its closing specially. If it closes above 1860 and stay there for a day or two, can be bought for a short term target of 1945.
HUL has given breakout convincingly, Buy it for the traget of 2520 in short term.
Reliance has formed Head and Shoulders Pattern on day range. Can see levels of 2350 and further.
ESCORTS in downward channel. Sell today on rise for the target of 1438-1430.
TATAMOTORS - Sell today on rise for a target of 395-390 in short term.
Oil India is in bullish move. Buy for initial target of 260 and then 280 in near short term.