Edited fragments from a chat:
Nifty has now included a performance of 8 consecutive positive endings, but the movement in those 8 days has not been so sharp. How do you see the trajectory of the index ahead when it seems to make progress slowly but steady?
The recent step of the Nifty is more like a cautious rally than at a competitive price increase, because investors embrace both positive and negative news. The index is the consolidation of profits and gradually builds a basis. As long as it applies to approximately 24,850 above the key support, the bias remains positive. A decisive movement above 25,150 can open the doors to 25,500 in the short term.
Banks kept pace with the rally, but it surprised. Do you think it will be led for technology for technology in the coming week?
The bounce was largely led by short-covering and value purchases at lower levels. An increase to 38000 in the short term may look like, while support is placed at 35500. Weakness can be resumed if it is convenient under 35500. In general, I see it in a sideways to positive reach instead of a continuing meeting.
Now that we have seen two weeks of expired days to exchange between BSE and NSE. What is your overall reading of the shift? What impact can you see on volumes and premiums?
The expired-day swapping is still in a price discovering phase. Initially we see fragmentation of volumes if traders adapt to the new system. Over time, liquidity will probably concentrate when cost efficiency and transparency are better. Premiums can remain volatile in the short term, but in the long term, competition can bring efficiency and narrower spreads.
Sebi is considering putting an end to the weekly expiry date of everything we have heard on the street. Do you think it would be a good idea to control the F&O mess? Is the Indian market ready for long-dedicated options?
Weekly expiry date has undoubtedly added speculative foam, but they also offer hedging flexibility and liquidity. Removing them can damage the participation and market depth. Instead, measures such as higher margins for short -term trade or curbs can be more effective in excessive shops. Regarding long -term options, although they exist worldwide, the Indian market is still in depth than contracts outside the month. So it can take time for long -dating options to get a meaningful traction.
BSE shares ended the week 5% lower in the midst of news flow around more curbs imposed by Sebi on the derivatives market. Where do you see the stock progressing during the week?
After a sharp correction, the stock has formed a bullish harami pattern on the daily graph, which indicates a first sign of recovery in the short term. A persistent rally of the current level may look like a decisive movement above 2210. Support on the bottom is placed at 2140.
Given the sharp Upmove in Defense Stocks on Friday, would one of them be on your radar in the coming week? Do you think the rally will remain?
Defense shares bounced back sharply on renewed hope about export opportunities and initiatives led by the government in the sector. Counters such as Bel, BDL and Hal, who had moved sideways aside in recent months, suddenly saw a new purchase interest. The long -term story for defense remains very strong, but after a sharp one -day meeting, some consolidation cannot be excluded. That said, dips in quality names such as Bel, BDL and Hal will probably attract buyers, so I would keep them on the radar for sustainable momentum.
Give us your stock ideas for the week:
Buy Railtel on RS 371.5 CMP. Target price: RS 400. Stop loss: RS 360
Railtel has seen a smart recovery after support around the £ 330 zone. The stock has moved above the 21-day EMA, which indicates a shift in Momentum on the short-term charts. Volumes have picked up together with a price promotion, which suggests that renewed purchase interest rate. RSI is also closed higher and moved over 50 Mark, to support the bullish bias. In the future, as long as it stays above £ 360, the shares can go to £ 385-400 levels, while immediate support is at £ 360.
Buy Cochin Shipyard above RS 1,750. Target price: RS 1,900. Stop loss: RS 1,700
Cochin Shipyard witnessed a strong recovery after a long -term decline, while the stock increased on Friday with heavy volumes. The price has succeeded in reclaiming the 21-day EMA, which reflects a shift in Momentum to the bulls. On the daily graph, the large bullish candle indicates that a strong purchase interest of lower levels. In the meantime, the RSI has also moved higher, which suggests that the rising force in the trend. In the future, a ongoing movement above 1,750 could open the gates for 1,850-1900 on the higher side, while immediate support is placed around 1,700.
Buy Bajaj Finance around RS 980. Target price: RS 1.050. Stop loss: RS 944
Bajaj Finance LTD acts on RS 1,003.25 on NSE, extending the sharp September rally. From August, the share has organized a strong recovery near RS 850, which trades comfortably above 21-blees, which emphasizes a sturdy bullish trend. However, a RSI above 80 indicates overbough conditions, which increases the risk of a break or profitbooking in the short term. Volumes have been picked up, which confirms a strong participation in the Upmove. Although the trend remains positive, the overloaded momentum suggests chances of consolidation for the next leg higher. Fresh lungs must be taken on corrections for better risk management.
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