Can Sensex, Nifty hit a new high after stable NDA Government?

A big thumbs up to NDA Government by the 130 Cr Indian population, the Indian Stock Market has touched a new record high this week. Sensex and Nifty touched 40124.96 and 12041 points a record high last week and closed at 39434.72 and 11844.10 respectively. On a weekly basis, Nifty Increased 437 and Sensex gained 1504 points. Both PSU and Pvt Bank index boost the Bank Nifty and it gained 1762 points during the week.


Indian Stock Market on Stable NDA Government:



Nifty mid cap and small cap 100 indexes also seen a rally of 875 and 413 points which is almost 5% and 6.5% gain during the week. The Indian Stock Market has got the political stability with the historic win of Modi lead NDA Government. But the road ahead of the Indian Stock Market would only be smooth if the NDA Government meet its all challenges.


Indian Stock Market can expect another big boost on the next month's Monetary Policy and Budget by the new NDA Government. FIIs has already started pumping fresh Investment in the market after the Lok Sabha election result. The market can see more new high if FIIs continue to flow funds into the market.


Last week the major gainers in Nifty 50 Stocks are IndusInd Bank, L&T, Adani Ports, SBI and Indiabulls Housing. The top losers in Nifty 50 Stocks are Tech Mahendra, ITC, TCS, Infosys, and Dr. Reddy. The historic win of NDA Government cheered the sectors like Banking and Financial Services, Auto, Metal, Infra last week. We can expect a big boost in Infra, Banking, and Financial, Consumption and Energy sectors in the second terms of Modi led NDA Government.



After the historic week, Indian Stock Market will witness another volatile week because of monthly expiry of derivative market. Lets us also look into the technical aspect of Nifty and Bank Nifty on the expiry week.


Nifty and Bank Nifty trend after stable NDA Government:



Nifty Weekly Outlook - OHLC-(11651.10/12070.00/11601.10/11869.40)
Sensex nifty, NDA government
Can Nifty touch new high


Primary Trend: Volatile (Bias Down) – Expected Volatility of 12.2146% (Range of 200 Points)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 12010 whereas All Down Moves Initiates Short Covering (Buy) @ 11720


If Nifty Moves Above 11920 then you should Buy with 1st Target of 12090 during the day or any point during the week by Trailing the Stop Loss from 11700- 11825- 11875- 12000- 12100- 12175 FOR the Target of 12190- 12280- 12390


If Nifty Moves Bellow 11800 then you should Sell with 1st Target of 11630 during the day or any point during the week by Trailing the Stop Loss from 12025- 11900- 11840- 11725- 11615- 11550 FOR the Target of 11542- 11450- 11340


Bank Nifty Weekly Outlook - OHLC-(30185.05/31780.00/30060.50/31222.80)
bank nifty chart, NDA goverment
Bank Nifty Trend



Primary Trend: Volatile (Bias Corrective) - Expected Volatility of 13.7610% (Range of 595 Points)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 31750, whereas All Down Moves Initiates Short Covering (Buy) @ 30680
If Bank Nifty Moves Above 31417 then you should Buy with 1st Target of 32075 during the day or any point during the week by Trailing the Stop Loss from 30680- 31080- 31325- 31740- 32125- 32375 FOR the Target of 32400- 32730- 33135
If Bank Nifty Moves Bellow 31010 then you should Sell with 1st Target of 30355 during the day or any point during the week by Trailing the Stop Loss from 31775- 31350- 31100- 30700- 30300- 30050 FOR the Target of 30025- 29700- 29300

Conclusion:

Nifty and Bank Nifty chart is showing a volatile week, next week is monthly expiry of the derivative segment. Indian Stock Market, Sensex, and Nifty already rallied around 3.7% so far this week. The market may gain 2-3% more, we may also expect a new fresh high if FIIs continue its buying mode. The market will then move as per Global and other Domestic cues and a new initiative that the NDA Government would take in the second terms. Traders are advised to remain cautious for the week.
You may also like to read, Best Stock Market Mobile App for Investing


Please share your opinion and views about the article and if you like the article please share with others


Happy Investing!


Finogyan Team


Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan is not SEBI registered Advisors and advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
Can Sensex, Nifty hit a new high after stable NDA Government? Can Sensex, Nifty hit a new high after stable NDA Government? Reviewed by Finogyan on May 25, 2019 Rating: 5

No comments:

Nifty and Bank Nifty Support and Resistance for Tomorrow

Bank Nifty Support and Resistance

Powered by Blogger.