Nifty 14Aug23 to 18Aug23 Short,Medium,Long Term & StockPick

Nifty 14Aug23 to 18Aug23 Short,Medium,Long Term & StockPick

Nifty closed at 19428 ( 19517) and touched low & high of 19414 and 19643.

Nifty couldnt cross the Short term resistance 19650 last week and lowered to 19400 level.
RSI and Stochastic level dipped to 47 % & 23%. Stochastic in over sold zone.

Nifty- Short Term will go down
Resistance at 19550-19493 ( Inclined Trend line)
Support at FibRetracement- 0.5 (19319) & Prev Aug Ist week Low ( 19300)


Nifty Medium Term -
After a dip as mentioned above Nifty need to cross decisively above the support 19300-19400 in the coming weeks to regain 19700 and above.
Nifty support at 19150, 19070

Long term-
Q1 results are average for majority of stocks except Banks stocks & to review the Q2 results.
Stock specific approach needed in the 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.

13-Aug-23 : Buy on dip SBI ( 579) & ICICI Bank ( 954)
CIE Automotive (RS 490 ) call was given prev week at 473 and raised 8%, dipped to 470 last week & raised. Can buy on further dip with Medium term outlook .

Other buy Calls provided a month before:
HDFC Bank , L&T Tech ( 8% up), KPIT (8% Up ), PI Ind , Dr Reddys ( 12% Up), Ujjvan Small Fin (21 %), Route Mobile, Bank of Maharashtra ( 35 %), Andhra Paper(3%) Accelya Solutions (4% up)