linkedin facebook twitter gplus

WEEKLY REPORT


LIMITED DOWNSIDE FROM THESE LEVELS AHEAD OF EXPIRY....



INDIAN MARKET

 CNX METAL

After giving bullish outlook by Team NTD we saw strong up move in index up to 2514. Team NTD seen an early indication of downside reversal in US Dollar Index & it will result into Metal Index to outperform the market in coming period.

 Team NTD is advising you to buy good metal stocks as we are seeing metal to outperform in coming period also up to 3050 on decisive closing of 2600.

Team NTD is having positive outlook on Metal index in coming period.    
    



CNX NIFTY ( DAILY CHART)



CNXPSUBANK INDEX(DAILY CHART)


Sectors to watch


1) CNX PSU BANKS:

Though index is in oversold zone but it has outperformed the market in month of April suggesting buying at dips. In coming periods we see index to touch the levels of 4000/4200 on decisive close of 3680.Team NTD advice to accumulate PSU Banks at every dips.

As per daily chart patterns compare to BANKNIFTY, the PSUBANK has completed 50% retracement and main BANKINDEX has almost completed 88.6% retracement which indication a more positive strength on CNX PSUBANK INDEX.  


2) CNX IT:

After making a high of 12908 Index is  made a low of 11077, we are seeing a strong support of  233 DSMA at the levels of 11020, from this level we are expecting CNX IT to reverse  to upside & it will outperform the market in coming period.

Team NTD advices to accumulate good quality IT stocks with time horizon of 1-2 years.



 
BANKNIFTY


Even in Banknifty we saw almost 350 points downfall from last week close but didnt break its recent low indicating some strength in coming week is likely. Though upside is capped at 18750/18800 levels we see limited downside in index for coming week as we are seeing strong support around 17800 from where we expect sharp bounce in index up to 18750/18800 levels on decisive close of 18200.

Coming week we are advising to book your short sells in index as downside is limited ahead of expiry week.



CNX MIDCAP

We seen almost 600 points hefty sell off in index as part of profit booking and also panic in other main indices. Last week we alerted the levels of 12675 not ruled out below support levels of 13000 in index.

 Coming week though index is weak for short term we see limited down side as 12550/12500 is strong support levels in index.




CNX SMALLCAP

After giving alert and double top formation in index we saw almost 600 points huge sell off in last two weeks. We also alerted multiple supports at 5600/5550 levels and index reacted accordingly by giving close of 5527.85.

Coming week we expect limited downside in index as multiple supports are there at 5500/5480 levels.

{April 25,2015}

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

Website Maintenance By : Aarav Infotech
All Rights Reserved By ntdtrading © 2016.