As you all know Nifty has broken its 15900 – 19000 Support level and now it will work as a resistance level in the upcoming days. There is a probability of a bull rally to come in. The Nifty has broken the support with the help of Large-cap stocks and mid-cap stocks.
Which sector will outperform in the coming weeks or months?
There is always a rotation outperforming in the sector in each quarter or undefined time frame.
As per analysis, the IT sector, Real Estate sector and Capital Growth sector will outperform in the coming days. As you know IT Sector will always remain bullish and outperform the Nifty. Try to ride the sector-wise bull run so that you make consistent money from the market.
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About Bank Nifty
Bank Nifty is having strong resistance at 36,500. In the last week, the nifty has given the breakout but still banking stock has underperformed. In the coming days, a high probability is their banking stock will perform well and the possibility to break 36500 resistance with good volume. As of now keep it on your Radar.
The next Nifty Index performance will be based on banking stocks. If banking stocks perform well then we can see a good bull run in the market.
Axis Bank and Icici is a good stock to keep track of in the private banking sector.
The stock is performed very well in the last week with high delivery. The stock is closing within 52 weeks high which is again a great sign. The relative strength is consistent growing good ( 60 RSI ).
If you can observe the stock chart the stock is making a bullish wedge pattern. In the last week, there was a breakout in the pattern. If you get into a new position for swing trade you will get the good risk to reward in the stock.
The major support 1638 and you can trail your stop loss or you can book the profit at the price of 2030 You can consider the previous week high as well.
The super trend indicator is showing the buy signal. There was a very good delivery and volumes in this stock. The stock performed well in the last week.
The TCS is coming under the IT sector. Same as previous stock the is trading under with high delivery last week. The stock has the probability to start its bull run if the major market remains sideways or bullish a bit.
You can expect an increase in momentum due to high delivery. If you consider it fundamental the stock is given a good result on last quarter and consistent good follows up in the return on equity and returns on capital. This is one of the no debt companies. Therefore you can trust on fundamental.
The major support is 1638 and the next resistance is on 3390. We can expect the break out in the pattern as well if nifty performs well.
If you are new in the market keep it simple and try to learn new things from the market. These are my point of view on the stocks please don’t take any trade blindly without following rules and be good with risk management as well.
I am going to take some good positions in these stocks and holding them for a couple of weeks. Let’s hope for the best.
Let me know some stock which you are taking a position in the coming days.