Nifty began to rise and remained in full session on November 14. At the higher end, the index found resistance around the retracement level of 38.2 percent last fall from the latest high level of 11.760 to the latest minimum of 10.004.
In addition, the 200-EMA in the daily framework acted as an active resistance to the growing Nifty. During the day, banking and financial activities remained largely green. On the other hand, IT and drugs are dragging.
India VIKS remained muted for the day.
On the options ahead, 11,000 CE ended with the most common interest, then 10,800, while 10,000 PE and 10,200 PE ended the session with the greatest interest.
In the past few days, Nifty has failed to go above 10,700, while at the bottom end 10,400 remained in support. Progression, the trend can stay on the side while Nifti continues to stay in the range of 10,400 and 10,700.
A decisive move above 10,700 can cause a rally to 10,830 while at the bottom end of a decomposition below 10,400 can cause weaknesses in the market.
Here are the best ideas for trading actions that can bring a good return in the near future:
Hekavare Technologies: Buy | CMP: Rs 318.15 | Goal: Rs 363 | Stop loss Rs 303 | Return 14%
The action is consolidated after a sharp correction, which means that the action is the basis for the next sharp movement. On the other hand, the Bottom tweezers are visible on the Rs 308 on a weekly stock chart that proposes a rally until the recent bottom remains untouched.
In addition, in the daily RSI (14), there is a divergence that suggests that the momentum will probably become positive in the near future.
Traders can accumulate inventories in the range of $ 315-325 for a target of Rs 363 with a loss rate below Rs 303.
United Spirits: Buy | CMP: Rs 647.95 | Target Rs 700 | Stop loss: Rs 619 | Return 8%
In stock, a channel drop is reported on a weekly chart, indicating that the action can move to the north in the short term. In addition, the action has moved above its recent consolidation form on a daily chart, indicating growing optimism.
Monthly RSI (14) entered the bullish crossover after a long time. All these settings indicate an increase in prices in the coming days.
Merchants can accumulate inventories ranging from $ 645-655 to $ 700 with Stop-loss below Rs 619.
Marico: Buy | CMP: Rs. 347.80 | Goal: Rs 379 | Stop loss: Rs 329 | Return 9%
Livestock after consolidation for several days gave the closest closure. On the line map, the price of the action moved above its previous point of small scale fracture.
On a weekly chart, the action saw that it moved because it found support around the lower range of the channel that was being raised. In addition, weekly RSI (14) is in a favorite crossover and growing.
The author is an analyst for technical research at Bonanza Portfolio Ltd
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