Bank Nifty consolidated in the range of 39000 and 39250 so it will act as a support. If, Bank Nifty tomorrow sustains above 39400, it can continue upward move till 39750, 40000. Conservative traders can place sl at 39200 and aggresive traders can place a sl at 39000.
Nifty
Nifty consolidated in the range of 17680-17760 so this range will act as a support. If Nifty breaks 17680 it can fall till 17600. Trading above todays high (17794) indicates up move till 17900.
Stocks to watch out.
1. Hindalco (LTP 513.95)
Metal space is performing well post budget and Hindalco is outperforming it's peers. Hindalco closed near it swing high (516) so trading above it will lead to a breakout. With next resistance at 555 and support at 480, Hindalco looks good bet.
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Disclaimer
All the information is from source deemed to be reliable but there is no guarantee to the accuracy. Information is for EDUCATIONAL PURPOSES ONLY and is not intended to give specific trading or investment advice. past performance is no guarantee of future performance. Investment/ trading carries significant risk of loss and you should consult your financial professional before trading or investing. Opinions are given based on widely-accepted methods of technical analysis other methods of analysis. No specific recommendation is given to buy, hold or sell of these markets/securities or exchange traded funds related to these markets.You agree that Aman Agrawal, Stocks by Aman, or anyone associated with them SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES.
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