NIFTY VIEW AS ON 7 OCTOBER 2020 (Strong Rally Towards Resistance) STOCK RECOMMENDATIONS !!
As we have seen that NIFTY is consistently trading above everyday's intraday support we are now reaching towards our resistance. However , please note that in an uptrend every resistance is weaker than the support. Levels to watch out for
Intraday Support Zone is 11625-11630
Intermediate Support Zone is 11360-11380
Long Term Support Zone is 10880-11040
Overall Conclusion : Nifty does not look like giving up the rally. But we are holding our views that this rally is quicker than expected and we are also reaching to our recent HIGH around 11800. There are few gaps left out which we cannot ignore that NIFTY may retrace upto. However breaking above 11800 will reduce or delay the possibility of filling those GAPS. We will see whats next...ensure to follow the above levels.
SWING RECOMMENDATIONS (Triggered) Exit will be announced LIVE MARKET
BALKRISHNA IND (Stop loss 1428)
SWING RECOMMENDATIONS
DR REDDY LAB (Buy at 5196 Stop loss 5093)
BIOCON (Buy at 464 Stop loss 448)
GODREJ CONSUMER PRODUCT (Buy at 749 Stop loss 721)
****Trigger Terms and Conditions****
1) Recommendations are valid only for tomorrow if not triggered ignore
2) Gap up opening above Buy price will invalidate the set up
3) Trade if triggered should normally end in a week
4) Targets are not pre-determined (exit will be announced)
5) Trade should be considered only for Cash Segment