Nifty is at a highly overbought range,Nifty has been strong through the festive season weekly major resistance at 12,967.
Nifty 50 and BSE Sensex have been rallying for the last 2 weeks since the Pfizer’s and Sputnik vaccine announcement have contributed to positive muhurat momentum there seems to be great optimism in the market regarding a possible end of Covid-19 cases by vaccine.
Nifty opened at 12,399 on monday ,making a week high on Saturday(muhurat day) climbed to a Record and week high of 12,823 on Friday ,while the week low was at 12,367 on monday and as the market stayed bullish through the week.
While Sensex opened at 42,981 low and also at 42,981 as the market just moved upwards from open price while week high at 43,717 while closing at 43,637.
Key Levels For The Upcoming Week
Minor Resistance and the support is expected to be at the 12,830 and 12,482 levels while Major support for Nifty for the Week is Expected to be at 12,375.
Stocks Recommendations are as follows:-
* stop loss is for reference only you can put it according to your risk appetite
RSI of Nifty through the week
RSI of Nifty is has highly overbought.Short term picks as we mentioned above can be held for a week.
Sector Move For The Week
Top mover of the week was NIFTY METAL moved by 7.56% & NIFTY FINANCIAL SERVICES 7.2%.
FII DII Data For The Week
F.I.Is have been bullish through the week 13,547 while the D.I.Is were bearish -10,067 .
Bulk Deals On Friday
Some of the bulk deals on Saturday were in Vitroz ,SITI Net and Sanginita to know visit Bulk Deals.
Some of the upcoming results are in JMT Auto,Jiya Eco Products.