WMA – WEEKLY MARKET ANALYSIS ll Markets Strong Ahead of Quarter One Earnings

Weekly Market Analysis: Stocks to Watch Out For

Welcome to Deep Institute, where we bring you the latest updates on the weekly market analysis. In this video, we will discuss the stocks that are expected to perform well this week, including the impact of upcoming earnings results. So, let’s dive in and explore which stocks you should keep an eye on.

Nifty Analysis

Starting with the Nifty index, we can see that it closed above the 7197 level, which is a positive sign. The market has shown strong momentum and is expected to continue its rally. It is important to note that Nifty has not closed below the 19550 level, indicating a strong support zone. Therefore, it is advisable to trade without any problems until Nifty breaks below this level.

Bank Nifty Analysis

Bank Nifty has also shown a strong breakout above the 45000 level, indicating a bullish trend. With the support of strong banking stocks, Bank Nifty is expected to reach levels of 46000 and 46400. Therefore, it is recommended to keep an eye on Bank Nifty for potential trading opportunities.

Stock Recommendations

1. State Bank of India (SBI): SBI has shown a good breakout above the 600 level. With the upcoming results, SBI’s rally is expected to continue, and it may reach levels of 615 to 620.

2. HDFC Bank: HDFC Bank has broken out of a consolidation phase after 8 sessions. It is expected to show strong momentum and may reach levels of 1680 to 1650. Keep an eye on HDFC Bank for potential trading opportunities.

3. Hindustan Petroleum Corporation Limited (HPCL): HPCL has shown a proper price action pattern and is currently trading above the 490 level. It may reach levels of 500, with immediate resistance at 520 to 525. Consider HPCL for potential trading opportunities.

4. Sun TV Network: Sun TV Network has shown a complete reversal pattern and is currently trading above the 5060 point. It has the potential to reach levels of 520, with strong support at 490 to 488. Keep an eye on Sun TV Network for potential trading opportunities.

5. Tata Steel: Tata Steel has shown strong buying momentum and is currently trading above the 122 level. It may reach levels of 122 to 123, with support at 115. Consider Tata Steel for potential trading opportunities.

Frequently Asked Questions

1. What is the expected target for SBI?

The expected target for SBI is around 615 to 620.

2. What are the support and resistance levels for HDFC Bank?

The support levels for HDFC Bank are around 1680 to 1650, while the immediate resistance levels are at 1737 to 1740.

3. What is the expected target for HPCL?

The expected target for HPCL is around 500, with immediate resistance at 520 to 525.

4. What are the support and resistance levels for Sun TV Network?

The support levels for Sun TV Network are around 490 to 488, while the resistance levels are at 520.

5. What is the expected target for Tata Steel?

The expected target for Tata Steel is around 122 to 123, with support at 115.

These are the stocks to watch out for this week. Stay tuned for our next video for more updates and insights. Subscribe to our channel for regular market analysis.