Market sentiment has significantly improved, reflecting a bullish outlook supported by technical conditions. Bank Nifty's inclusion in rising sectoral indices, alongside improving asset quality and government focus on fiscal discipline, is notable. Intraday resistance for Bank Nifty is seen at 47100, with Nifty's crucial resistance at 22000. Call writing at 21900 and 22300 strike prices and notable Put writing at 21900 and 21800 levels suggest a balanced outlook. The Volatility Index has cooled to 15.22 levels, with Nifty's Put-Call Open Interest Ratio at 1.18. Nifty aims for an all-time high at 22127, backed by dominant bullish sentiment despite concerns over higher interest rates' impact on economic growth. Noteworthy performances include HDFC Bank's 2% gain and strong showings from Nifty PSE & Nifty PSU Banks indices, energy/oil & gas majors, and Mahindra & Mahindra. Conversely, Hindustan Unilever hit a 52-week low, while ZEE Entertainment tumbled 6% amid acquisition talks. Recommended trades: Buy Nifty with stop at 21577, targets 22127/22301, and Bank Nifty with stop at 45483, targets 46600/47100. Favorable positions on NTPC, BANK OF BARODA, MARUTI, and GAIL during intraday weakness are suggested, with MARUTI being the top stock pick with targets at 11451/12000 and aggressive targets at 12500, supported by a higher high/low strategy.
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