3 leading stock suggestions from Rajesh Palviya for next week

“Bank Nifty structure has actually turned little bit weak and the method Bank Nifty has actually broken its 20-day moving average, our company believe that if stay listed below to 51,000 mark, I believe there might be in addition supply pressure we might see in the extension of this down relocation and potentially Bank Nifty can try to move even more towards 50,200, 50,300 zone, that is the next instant assistance location based upon the acquired information front,” states Rajesh Palviya, Axis Securities. Rapidly take us through what levels you are finding. Inform us if this correction that we have seen is a momentary blip or do you believe we are going ahead and we are in for a lot more problem coming in for the market? Rajesh Palviya: So, taking a look at the correction in the last number of days, now Nifty slipped once again back to listed below to 25,000 level. That was the significant put-based concentration on the regular monthly series along with for the weekly series. And we have actually broken these 2 assistance locations on the closing basis. Taking a look at the near-term structure, if we sustain listed below to 25,000 level, yes, potentially we might see moreover supply pressure in the extension of this down relocation. And Nifty might try to move even more lower to check its 20-day moving average, which is practically around 24,800 sort of zone. If it breaks listed below 24,800, then we might see an extension of supply pressure towards 24,600, that is the next significant put-based concentration which we are seeing on the weekly as well as on the regular monthly series. Listed below 24,800, we might slip even more to 24,600, that might be a possibility looking at the near-term information setup. On the greater side, 25,100 might function as a significant supply zone. Till Nifty not crosses those levels, I believe small pullback might draw in once again supply pressure on the greater side. Bank Nifty structure has actually turned little bit weak and the method Bank Nifty has actually broken its 20-day moving average, our company believe that if stay listed below to 51,000 mark, I believe there might be additionally supply pressure we might see in the extension of this down relocation and perhaps Bank Nifty can try to move even more towards 50,200, 50,300 zone, that is the next instant assistance location based upon the acquired information front. Bank Nifty is looking little one notch weaker compared to the Nifty and I believe 51,000 is the stop loss if anyone has actually currently opened their brief position. They can continue with the 51,000 stop loss for drawback target of 50,400 to 50,300. Inform us the type of the outlook we have actually seen on the indices. It has actually gone sideways now and particularly unfavorable for the F&O stocks and the method SEBI is really clear about they wish to install more step to tighten up the acquired area, they wish to increase entry barriers. Do you see F&O stocks, bigger cuts can be found in, more damage can be found in F&O stocks proceeding from here? Rajesh Palviya: So, certainly, the tightening up
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