Nifty Bank Indexشراء
NIFTY AND BANK NIFTY ANALYSIS 14 NOV 2022
13 NOV 2022 1000 HRS
1. US Indices are looking strong. DJI is above 200 SMA. S&P is showing strong momentum.
2. European market look over stretched and may consolidate.
3. Asia is looking strong with Nikkei above 200 SMA.
4. SGX Nifty indicates 52 points uptick at 14888 Fut and 18400 Spot.
5. HDFC Bk look over stretched after a big move and may consolidate between 1640 and 1588. ICICI Bk has made a big engulfing bearish bar. May consolidate tomorrow.
6. Reliance look strong and ready for a breakout just like HDFC Bank. With IT Pack being very bullish Nifty may look to be in good stead for a good uptick provided HDFC Bk and ICICI Bk do not negate the momentum of reliance and Infy.
Verdict.
1. Nifty looks stronger than bank nifty.
2. Nifty has strong support at 18300 Levels. any sustain of previous day high of 18360 is a good buying opportunity with Tgt of 18490.
3. Bank Nifty has strong sp at 42153 and 41947. Any break of 42153 to downside may see a sharp move towards 41900. If HDFC Bk and ICICI bank sp Bank Nifty, then a tgt of 42500 is possible.
Individual Stocks
1. Reliance is a good buy above 2615 tgt 2673.
2. Manappuram Finance can be bought above 108.5 Tgt 116.
DISCLAIMER : I AM NOT A SEBI REGISTERED TRADER. PLEASE USE THIS INFO TO ENHANCE YOUR DECISION MAKING.
1. US Indices are looking strong. DJI is above 200 SMA. S&P is showing strong momentum.
2. European market look over stretched and may consolidate.
3. Asia is looking strong with Nikkei above 200 SMA.
4. SGX Nifty indicates 52 points uptick at 14888 Fut and 18400 Spot.
5. HDFC Bk look over stretched after a big move and may consolidate between 1640 and 1588. ICICI Bk has made a big engulfing bearish bar. May consolidate tomorrow.
6. Reliance look strong and ready for a breakout just like HDFC Bank. With IT Pack being very bullish Nifty may look to be in good stead for a good uptick provided HDFC Bk and ICICI Bk do not negate the momentum of reliance and Infy.
Verdict.
1. Nifty looks stronger than bank nifty.
2. Nifty has strong support at 18300 Levels. any sustain of previous day high of 18360 is a good buying opportunity with Tgt of 18490.
3. Bank Nifty has strong sp at 42153 and 41947. Any break of 42153 to downside may see a sharp move towards 41900. If HDFC Bk and ICICI bank sp Bank Nifty, then a tgt of 42500 is possible.
Individual Stocks
1. Reliance is a good buy above 2615 tgt 2673.
2. Manappuram Finance can be bought above 108.5 Tgt 116.
DISCLAIMER : I AM NOT A SEBI REGISTERED TRADER. PLEASE USE THIS INFO TO ENHANCE YOUR DECISION MAKING.
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