The chart pattern suggests that if Nifty crosses and sustains above 11200 levels it would witness buying which would lead the index towards 11400-11600 levels, Rajesh Palviya, Head – Technical and Derivative Research, Axis Securities, said in an interview with Moneycontrol’s Kshitij Anand.Edited excerpt:Q) It was a volatile week for Indian markets. Nifty50 failed to hold on to 11,300 levels. What led to the sell-off on D-Street?A) The market has shown over 7 percent upward move in July. The market has extended its gain for the fourth consecutive month, forming a higher high.Close The market has shown a strong run-up in the last 3-4 months. The index failed to cross the 11300 levels and witnessed profit booking at higher a level. related news Nifty back to 11K, Sensex spikes 748 pts; these 5 factors supported the market rally Trade Spotlight: Bandhan Bank, Tata Motors & UPL in focus The market witnessed volatility as most of the frontline companies are coming out with their financial results. Global uncertainty also added to the volatility in the market.Q) Which are the important levels that one should keep an eye on in the coming week? And, what should be the strategy?A) On the weekly… Read full this story
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Nifty could trade in 11,400-10,700 range this week with a mixed bias; 4 stocks to buy have 318 words, post on www.moneycontrol.com at August 4, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.