April 29, 2024
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Nifty 50 Nifty Bank Analysis for April 30, 2024
Table of Content
Chanakya’s Nifty Bank & Nifty 50 Investments Analysis
Nifty Bank (48424):
*Major Trend: Bullish
*Trend for 30 April: Bank Nifty is expected to show strong rally
*On higher side, it is expected to move up to 48818
*On lower side, expected to decline to 48686
Nifty 50 (22643):
*Major Trend: Bullish
*Trend for 30 April: Nifty is expected to show strong rally.
*On higher side, expected to move up to 22718
*On lower side, it is expected to decline to 22504
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Nifty Analysis by Shrikant Chouhan Head Equity Research Kotak Securities
Market wrap from Shrikant Chouhan, Head Equity Research, Kotak Securities:
Today, the benchmark indices witnessed promising uptrend rally, the Nifty ends 223 points higher while the Sensex was up by 938 points. Among Sectors, PSU Bank and Bank Nifty indices gained over 2 percent, whereas, despite strong momentum, Reality index shed over 1 percent. Technically, after a gap up opening market held the positive momentum throughout the day.
On daily charts, the index has formed bullish candle and currently it is comfortably trading near 20 day SMA (Simple Moving Average). For the trend following traders now, 22425/73900 or 20 day SMA would act as a key support level. Above the same market could move up till 22700-22775/75000-75200. On the other side below 22425/73900 traders may prefer to exit out from the trading long positions. We are of the view that, the current market texture is bullish but buying on intraday dips and sell on rallies would be the ideal strategy for the day traders.
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‘Ll market go down continuously
Will market go down continuously or not
Need NIFTY and BKnifty analysis and tips for the same.
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