NIFTY VIEW AS ON 20 OCT 2020 (STRONG INTRADAY BOUNCE BACK) STOCK UPDATES !!
Intraday Support Zone is 11875
Intermediate Support Zone is 11600-11666
Long Term Support Zone is 10965-11200
MARKET VIEW : As mentioned yesterday NIFTY broke above yesterday's HIGH and sustained above our intraday zone. However it was interesting to note that on opening NIFTY bounced back exactly from our intraday zone level which was key as per our analysis. I see that we will stay above this zone tomorrow and although it breaks and end below the follow up for bearish move might not occur.
STOCK TO WATCHOUT FOR POSITIONAL TRADE
TATA CONSUMER PRODUCT
It has to break above 492 and sustain for considering any long position for the same. (This still holds valid yet to trigger)
STOCK RECOMMENDATION FOR SWING TRADE
SIEMENS
I have provided a call yesterday to buy and we saw that there was a good move today. Interesting to see how it reacts at 1300 level breaking above will rally further strongly.