Et now: yes, there were many uncertainties while we started the week, but at the end of the week we have some clarity, but with the clarity we still have the volatility in the market. What should the strategy be for the following week?
Rajesh Palviya: Looking at the delivery pressure during the week, act Nifty and Bank Nifty now both under their 50-day advancing average. The uncertainty around rates has created some nervousness in the market and pressure on the sectors. As a result, Nifty and Bank Nifty both act under their important support areas.
Nifty has broken the 24,600 support level at final basis. If the index continues to act below 24,600 in the coming week, we may see a further relaxing pressure, with a possible down movement that extends to the 100-day advancing average, which is placed around 24,380 zone. This can be the next level where Nifty can further correct the current level.
On the higher side, until the Nifty fails to cross above 24,750, 24,800 level, the trend will probably show on the Bearish side for the short-term perspective. Even for Nifty, 56,000 is the crucial resistance area on the higher side. So if we have to have a comfort zone in the bank at all, it must be locked 56,000 level, then we only see some short coverage, until we are unable to regain more than 56,000, perhaps some more delivery pressure that we can see in Banknifty too, 55,500 is the immediate well -based support area. If it breaks, a possible downward movement can also extend to 55,200. Even with the Rollover activity we have also seen that Nifty has witnessed around 75.7% Rollover, which is lower than the past three months and six months. So, shorts are still worn in the system for both the Nifty and for the Bank Nifty, which can cause further pressure in the coming days. It will therefore also be a somewhat bearish opening for the following week, based on both the technical and derived arrangement.
Et now: another sector that I would like to discuss with you. The pharmaceutical space did really well in the last two weeks and came the news. Donald Trump again. He demanded that pharmaceutical companies lower the prices to blow to industries. Trump escalated his campaign to put pressure on pharmaceutical companies to reduce drug prices to the extent that he sent letters to 17 of the world’s largest drug makers who demanded that they charge the US what other countries pay for new medicines. Now, on the back of this, there was also an impact on domestic pharmaceutical companies. We waited for a chance to enter the pharmaceutical space. Does this feel like an opportunity and should it be the position to enter the pharmaceutical space if we get a chance?
Rajesh Palviya: There is a sale in most pharmaceutical shares, but still, if you analyze, such as the health care sector still keeps the land at a higher level. So if someone wants to bet at this present moment, health care would be the right gamble in the pharmaceutical and in health care. So shares such as Fortis, Max Healthcare and Medanta look all the shares attractive, but in the field of pharmaceutical front one must wait because there is still no clarity on the tariff front about this, and what kind of impact there would be on the companies in the future. So maybe some profits would take in the pharmaceutical space and some shares from the pharmaceutical, such as you Sun Pharma, Dr. Reddy’s, even Aurobindo Pharma All these shares have broken their support area in the short term. Although the long-term process is still intact, there is weakness on the graph in the short term, and even the Nifty Pharma index is now just down to the 50-day advancing average. So maybe we could see a little more profit in the pharmaceutical space in the coming days, until this uncertainty is there. So there would be more disadvantages. So wait at the moment in the pharmaceutical room to buy. But yes, those who are looking for an opportunity for a long -term perspective, they can use this decline as a buying option, but not at the current level, wait for some stability in the stock prices, then one can want to look to buy shares. Divi’s Lab is our favorite choice. Glenmark and Divi’s Lab These two shares look attractive. Laurus Lab also looks attractive. So these three to four shares look attractive in the long term and in the medium term. But healthcare is a space where you can try to buy shares such as Fortis, Max Health and Medanta; These three shares are the preferred choice from healthcare.
Et now: So what are your stock calls?
Rajesh Palviya: One is on the buying side and one on the sales side. Jindal Stainless looks attractive on the purchase side. The stock keeps comfortable above all its advancing averages in the short term. And the way in which shares have bought in recent days to buy action clearly shows that the stock is ready for giving an outbreak on the graph in the short term and possibly target to 735 that we could see to short -term perspective in the short term. So, Jindal Stainless can be purchased with a stop loss of 692. On the short side, Adani Enterprises has broken its important support area in the daily and the weekly period. So, looking at the structure, there is a short structure in the Adani companies and we believe that the pressure of the coming days can also see. So a possible down movement can extend to 2285 to 2270. So, one can fall short in the future of Adani Enterprises with a stop loss of 2375.
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