Edited fragments from a chat:
After Nifty broke his 6-day winning series on Friday, how Bearish or Bullish are you for the Outlook prior to the August Series-Decay date next week?
After a few days of win, Nifty took a breathing break on Friday and seemed to a break for the next stage of the Up Move. The index has kept above 50 EMA, which confirms an upward trend in the short term. On the other hand, support is placed on 24,800; As long as it applies above this level, the trend will probably remain strong with potential to rise to 25,000/25,250.
Nifty Bank knew all his win during the week. What are your goals for the holiday-colored week ahead?
The Bank Nifty continues to perform the handy performance and the installation of a matte performance during the week. On the daily graph, the index was broken under recent consolidation and slid under 50 EMA. On the weekly graph it has fallen in the direction of the 20 EMA, where it is expected to find support and try to try a reversal. However, if it drops under 54,950, this can extend the decrease to 54,500. On the higher side, resistance is placed on 55,500 and the sentiment will probably remain weak as long as the index is traded below this level.
Since Sebi’s Jane Street orders came out, the market has had some impact on F&O volumes, especially on fake days. As soon as BSE and NSE due day will come into effect from September, what do you think the impact on volumes could be?
Immediately after the prohibition, the volumes saw a sharp fall of approximately 30%. Although they eventually recovered to a certain extent, they did not return to the street level of Pre -Janane. A negative influence on volumes can still be felt in the short term; In the long term, however, broader participation will probably stimulate higher volumes, because traders are increasingly using both NSE and BSE expiration date.
And how would your handy trading strategy shift as soon as we are on Tuesday. Do you think the first few weeks of the shift can be stressful for traders?
With the shift to Tuesday walk, the trade strategy for Nifty options will need some adjustment. The first few weeks can indeed be stressful for traders if they adapt to the new cycle. Option premiums are likely to see the sharpest time of time between Friday and Monday, making it much more dynamic on Monday. As a result, Monday the second most important day for Nifty Option traders, with functions that are actively assessed whether new transactions are initiated before the expiry of Tuesday.
OLA shares were among the best profit in the week. Do you think the momentum will last?
On the weekly graph, OLA has not succeeded in closing above the important average 20ema on the weekly graph, this is a bit negative for the price trend. However, if the stock goes beyond 48 in the early days of the following week, it can go to 54/56. On the other hand, support is placed on 46.60.
Give us your top ideas for the coming week
Buy Uno Minda for £ 1266 | Goal: £ 1330 | Stop loss: £ 1219
The share has been moved higher after a short consolidation on the daily graph, which indicates renewed optimism. It acts comfortably above 50 EMA and confirms a bullish trend, while the RSI has entered a bullish crossover after the outbreak. In the short term, the trend is expected to remain positive with potential benefits to 1,330. On the other hand, support is placed on 1,219.
Buy Lupine @ £ 1970 | Goal: £ 2050 | Stop loss: £ 1924
After a bullish harami pattern formation, the stock went up higher, which is an indication of bullish reversal. The price is kept above important 50EME. The RSI is in Bullish Crossover. In the short term, the stock can go by 2030-2050. While a support is extinguished at 1924.
Sales Axis Bank @ £ 1070 | Goal: £ 1040 | Stop loss: £ 1086
The stock has slipped from his recent consolidation, suggesting that a growing bearish sentiment. Moreover, under 21 EMA it has exchanged for the daily period. The RSI is about to a bearish crossover. In the short term, the stock can float lower to 1,040, while the benefit the resistance is placed at 1,086.
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