SBI Life among top 3 stock ideas for the week ahead from Kunal Shah
«A breakthrough of the resistance at 19,850 by the end of the month is anticipated, potentially paving the way for further upward movement towards 20,200-20,500 levels,» says Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitIIM LucknowIIML Chief Marketing Officer ProgrammeVisitIIM LucknowIIML Chief Operations Officer ProgrammeVisitIn this chat, he also shares three stock ideas for the week ahead:
Nifty went up around 1% in the week on the back of positive US inflation data. How big is the resistance at the 19,850 level and what are the odds of the index reclaiming the 20,000 mark once again?
Bulls regained strength in the market following positive US data, prompting short-covering moves in the index. The downside support for the index is situated at 19,560, and as long as this support holds, a «buy on dip» strategy is recommended. A breakthrough of the resistance at 19,850 by the end of the month is anticipated, potentially paving the way for further upward movement towards 20,200-20,500 levels.
Nifty IT surprised with a 5% rally while Nifty Bank underperformed. What are the charts hinting at in the coming week?
The IT index experienced a rally driven by positive results from Nvidia in the US, fostering positive sentiment in buying. The Nifty IT index, however, continues to trade within a range-bound territory on long-term charts, with support at 31,000 and resistance at 33,000. Contrarily, the Bank Nifty underperformed due to the RBI tightening consumer loan disbursement and increasing provisions from 100% to 125%. The Bank Nifty has a crucial support level
