May 24 - May 28
Last week the market gave a good move on positive sentiments.
NIFTY ANALYSIS -
1) NIFTY has formed a bullish candle on weekly basis.
2) Technically it looks strong for an upward move.
3) If profit-booking occurs 14845 - 14890 will be a good bounce-back zone for upside.
4) NIFTY will be geared for an all-time high only above 15190.
5) NIFTY all-time high made in Feb 2021 ie. 15431.
6) According to analysis 15555 will be the 1st target for NIFTY.
7) Top-up zone will be 15890 - 15990.
8) If covid 19-second phase cases heal down then NIFTY will move smoothly for top-up zone 15990 levels.
9) Exit all short positions if having any.
BANK NIFTY ANALYSIS -
2) Has proven with a massive move done.
3) BANK NIFTY is also bullish.
4) 33400 level stays strong support.
5) Strong resistance zone 34908 - 35413.
6) Once the 35413 levels taken out, there will be no time for upper level 36497.
7) As in my previous tweets & blogs had suggested closing above 34287 will make none stop rally of 1500 - 2000 points on the upside.
8) All-time high @ 37708.
9) To make a new all-time high BANK NIFTY closing should be above 36497.
10) All the banks are ready to rally.
11) Bank to watch this upcoming week are.
12) HDFC TWINS/AXIS BANK/CANARA BANK/BAJA TWINS/PNB/BOI & KING OF BANKS KOTAK BANK.
USDINR ANALYSIS -
2) Only up move can be seen above the trend line breakout.
3) Better to stay away from USDINR till 10th June 2021.
4) Good time to Hedge USDINR for next month June contact.
-REGARDS-
Kirthee Bane
capitoinvestments
https://capitoinvestments.in
