Nifty50 Analysis: After a big fall now Nifty
is giving a positive signal of the short term. On the daily chart, an index is
trading in a bullish channel and the trend is Higher-High & Higher-Low. The
last closing is near channels resistance and the last candle is neutral so we
are expecting small dip then Nifty will breakout this channel. The next
resistances are 9500/9700/9950 and supports are 8800/8650. It’s looking like
buy on dips i.e. near support but we have to keep track of global sentiments.
Nifty Bank Analysis: In this fall banks were
leader i.e. Yes Bank, RBL, Indusin India, etc. Now Niftybank is trading in
Bullish Ascending Triangle and we have to wait for a breakout. We are only
bullish on SBIN, HDFC Bank, and ICICI Bank.
Nifty Auto Analysis: The automobile sector is performing low from the last 6 six months and due to this lockdown more chances of low performance. However, the index has given breakout to Double Bottom and taken support from the same levels. It is a good time to invest in Auto Stocks which are trading at a lower price and actual valuation is good like Tata Motors, Ashok Leyland, etc.
Nifty FMCG Analysis: In this lockdown government cannot stop the production and sale of food production and that is the big plus point for FMCG stocks. Now the index has resisted from the trend line and its 200 DMA. We can buy FMCG stocks on dips like Dabur, ITC, HUL.
Nifty IT Analysis: IT index also trading in a
Bullish Ascending Triangle but the IT sector is good for investment due to USA
lockdown and CORONA situation. Our maximum revenue in the IT sector depends on the
USA. So we have to wait for CORONA recovery.
Nifty Pharma Analysis: Pharma is performing well
and a good opportunity to invest in pharma stocks. If we see a daily chart of the
index then there is resistance around 9565 and support around 8485. Many stocks
looking good buy like Lupin, Cipla, Sun Pharma, Biocon, etc.
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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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Nifty Auto Analysis: The automobile sector is performing low from the last 6 six months and due to this lockdown more chances of low performance. However, the index has given breakout to Double Bottom and taken support from the same levels. It is a good time to invest in Auto Stocks which are trading at a lower price and actual valuation is good like Tata Motors, Ashok Leyland, etc.
Nifty FMCG Analysis: In this lockdown government cannot stop the production and sale of food production and that is the big plus point for FMCG stocks. Now the index has resisted from the trend line and its 200 DMA. We can buy FMCG stocks on dips like Dabur, ITC, HUL.
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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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