Nifty may fall to 18000 below 18250, Bank Nifty resistance at 43000; Glenmark, Divi’s Labs among stocks to buy
时间:2024-09-27 19:13:09 阅读(143)
By Shivangi Sarda
Nifty index opened positive but witnessed a dead cat bounce and slipped from the initial hour of the session. It witnessed greater intensity of selling in the second half and broke its immediate support zones and closed with losses of around 180 points. It formed a Bearish Engulfing candle on daily scale and has been making lower lows from the last five sessions.
Bank Nifty opened positive but bears took over and it nosedived by 1250 points during the day. It touched 42363 zones and finally closed with massive losses of around 750 points. It formed a Bearish Engulfing candle on a daily scale and supports are gradually shifting lower.
For weekly Bank Nifty, Maximum Put OI is at 42000 then 42500 strike and maximum Call OI is placed at 43500 then 44500 strike. We have seen significant Call writing in 43500 while minor Put writing is witnessed at 42000 with major unwinding at 43000 strike. Now till it holds below 43000 zones, weakness could be seen towards 42250 and 42000 zones whereas hurdles are placed at 43000 and 43339 zones.
Now, till it holds below 18250 zones, weakness may be seen towards 18081 and 18000 zones whereas hurdles are placed at 18350 and 18442 zones. Traders are advised to be with positive stock-specific action in Glenmark, Lal Path Labs, Divi’s Labs, Lupin, Apollo Hospital, Cipla, Abbot India, IPCA Labs, Sun Pharma, TCS and Nestle India while weakness in City Union Bank, Delta Corp, Indian Hotel, PVR, Punjab National Bank (PNB), Ambuja Cement, India Cement, IRCTC, Cholamandalam Financial Holdings, Trent, Dixon, ABB, GNFC, ABFRL, DLF, Oberoi Realty and Maruti.
(Shivangi Sarda is an Analyst – Equity Derivatives & Technicals, Broking & Distribution, Motilal Oswal Financial Services Ltd. Views expressed are the author’s own. Please consult your financial advisor before investing.)
猜你喜欢
- Rupee gains on India’s inclusion in JPM bond index
- Rupee likely to appreciate today on weak dollar, lower crude prices, recovery in Asian currencies
- Rupee falls to new record low, may hit 83 per dollar in coming sessions on elevated crude price, FII outflows
- Nifty, Sensex near all-time highs, but Zerodha CEO Nithin Kamath doesn’t feel like it’s a bull run; here’s why
- Nifty, Sensex snap 3-day rally to end in red ahead of Q4 GDP data; volatility to continue
- Rupee falls 22 paise to close at 82
- Rupee falls 9 paise to settle at all-time low of 83
- Nifty to trade at 17400-18000 this week, use bull call spread for 18 Aug F&O expiry; SBI, ICICI Bank in focus
- Nifty to scale 19000 or bears to stop Santa Claus rally- 7 things to know before share market opening bell