On the basis of banking shares, there is good recovery in the market today. The Nifty is showing more than 200 points to 23000 beyond the lower levels. Bank Nifty has also ran around 500 points. Midcap and smallcap stocks have come today vigorous shopping. Both index are outperform. In such a situation, talking on the technical texture of the marketDirector and Head of Research Rahul Sharma of A M Financial Services Said that the Nifty can go above 23300. Traders will be advised to take positive calls when they get up above 23400.
Rahul further said that after several days, Nifty has created a yellow candy dominant. The first hour trade has been very strong. This is an indication that today’s bouncebank may appear to be growing up to 23200-23300. It is expected to stay in the market for two-three days from here. Trading will be recommended for a very short term at this time. Traders will be recommended to take positive calls only when they get up above 23400. Until this happens, stay short -term trader or BTST more and more and avoid positive trading.
For today’s trade, Rahul has advised to shop in Nifty. He believes that today 23200-23300 targets can be found in Nifty. Rahul is of the opinion that the decline in the market seems to be fulfilled to a great extent. If stability returns to the market, we should start shopping in large cap stocks. Nifty has so far tried to break 22800 5-6 times. But every time the market recovered from here. Now we can walk by creating a basket of shares showing comparatively from here.
Rahul in loud cap reliance The shares are being liked. For them HDFC Bank Looks good too. They are of the opinion that HDFC Bank Can go up to 1800 rupees. Bajaj Finserv I do not have any kind of recession. Stock is hiring, hire low. Apart from this, the cement sector is seen in a very good condition Ultratech cement Rahul Sharma also likes. From FMCG Britania He is also included in his choice. His five large cap is advised to run by making baskets of shares. Short term can also be seen in these shares.
Trading Plan: Will Nifty go above 23000, will the bank be able to regain the level of Nifty 49500?
Rahul is of the opinion that this bounceback which came in the market should run till 23300. But if the resistance of 23400 breaks, then it can give a rally up to 24000 bounce back. He believes that IT will be advised to wait for the speed of fast. At this time, financial and banking shares look good. Big private banks look good. We should walk with them at this time. If the market again became complicated and the uproar increased, then the chances of loss in these shares are less.
Jomato Talking on the shares of, Rahul said that it is a simple setup. The low of January is higher since February, that is, the stock has preserved its base in the poor market. The market has taken support several times in the range of 205-210. In this bounce, the stock of up to Rs 245 can be seen in stock. Stocks can be purchased at current levels with a stoploss of Rs 220.
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