Nifty 31Jul23 to 04Aug23 Short,Medium,Long Term & StockPick

Nifty 31Jul23 to 04Aug23 Short,Medium,Long Term & StockPick

Nifty closed at 19646 ( 19745) and touched low & high of 19572 and 19871.


Nifty long call was given Three week back (at 19250) and touched all time high 19996

RSI and Stochastic level dipped to 60 % & 48%.

Nifty- In Short term might increase
Resistance at 20000,
Support at 19500 ( Shown in thick red support line)


Nifty Medium Term -

Above 20000 it will take it to 20100-20150-in Medium term.
Nifty support at 19300/19000
Can initiate sell around 20000-20150 ( Fibonacci 1.618 level)

Long term-
Q1 results are average for majority stocks except Bank stocks so far & to review the Q2 results.
Stock specific approach needed in upcoming market.

Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given four weeks back, on an average raised 3-5 % in Three week( Can accumulate on dip ):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.

Can add CIE Automotive (RS 473.5 ) and AXIS Bank (950) in their portfolio with Medium term outlook - 30-Jul-23

HDFC Bank , L&T Tech ( 8% up), KPIT , PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (16 %), Route Mobile, Bank of Maharashtra ( 25 %), Andhra Paper(3%) Accelya Solutions

Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)