The market extended the north trip for the fourth weekly week which ended August 12 and closed at a new altitude of four months, driven by positive global cues with a decrease in US inflation and Indian CPI inflation along with consistent FII purchases.

Nifty50 highly respects short -term support at the level of 17,500, and up 1.7 percent to complete week at 17,698, the highest closing rate since April 8.

With a recovery of more than 16 percent from the lowest June, this index is in an important resistance area of ​​17,700-17,900, which is in a long sloping resistance line next to 19 October 2021 and 18 January 2022, and around the previous swing the previously high level. The index can move towards these levels but then there may be a possibility of profit order with support at 17,500, experts said.

The wider market also participates in rising trends with Midcap 100 and good Smallcap 100 index which rose 1.8 percent and 1 percent for a week.

“The trendline decline from the previous highest swing is around 17,700-17,800 and we have ended right around the end of the resistance. If the market exceeds this obstacle, then the 78.6 percent retracement of the previous correction is around 17,875. 17,900 is an important obstacle for the index and reading of the Momentum Overbought, “said Ruchit Jain, the main research at 5PAISA, said.

He thought that it was very possible that the market would see the corrective phase again in the near future. Traders must wait for confirmation of any reversal before taking any counter trade, experts suggest.

Direct support for nifty is placed around 17,630 and 17,500 and the closure under the support mentioned will be a sign of reversal.

Until then, Ruchit advised traders to adopt a special approach to stocks and reduce capital allocation in trade because risk prizes are increasingly unfavorable for new investments. Also, traders are advised to order profits on time and take money from the table in the resistance zone.

Let’s look at the top 10 trading ideas by experts for the next three four weeks. Returns are based on the closing price of August 12:

Shrikant Chouhan, Head of Equity Research (Retail) in the Securities Box

Interglobe flight: buy | LTP: RS 2,014.15 | Stop-Loss: RS 1,900 | TARGET: RS 2,250 | Returns: 12 percent

The stock has formed the bottom of the dual between the 1,550 and 1,600 hospital level in March and July 2022. Technically, the stock has been proven to form the bottom of the dual by crossing the 2,050 hospital level.

Technically to the 2,500 hospital level in the next few months. Strategies for medium-term position traders require purchases between RS 2,000-1,950, with a termination of damage in RS 1,900. Resistance will become 2,150 RS and 2,250 RS.

Technically, because the list of stocks remains in stages, however, in recent months the fall rate, which produces positive differences. This is an indication of changes in trends that apply.

It can rise back to the balance level of the last 8 months, which is around RS 690. This is a purchase at the current level of RS 580 and buy balances at RS 550 with short to medium -term views. A person can put termination in RS 520.

Technically, the price crosses a very important level. Every day, it has violated an important level, namely RS 3,620. This forms a series of uptates that rise and rise, and the volume rises at the top of the rally, which is an indication of further activity in the near future.

The strategy is to buy at the current level at RS 3,660 and subsequently in the decline to 3,620 Hospital. Stop-loss for traders positions must be at RS 3,590. On the upside down side, the stock will find resistance in 3,750 hospitals and 3,820 hospitals.

The stock price has broken from the downward trend, side by side with the highest April 19, 2022 and July 22. Primary stock trends are positive because they are traded above the average movement of 50, 100 and 200 days.

Plus is traded above the minus while the ADX line (average directional index) is placed above 25, showing momentum in the current trend.

Momentum oscillators such as RSI (Relative Strength Index) and LKM (Money Flow Index) are in rising and placed mode above 60, showing strength in the current trend. Someone can buy stock in the range of Rs 262-250.

The stock price has broken from the downward trend down on the daily graph. Short -term trends of stocks are positive because they are traded above EMA 5 and 20 days (exponential moving average). Momentum Oscillars – RSI (11) are placed above 60 and tilted up, showing the strength in the current trend from stock.

Bank PSU as the sector looks strong on the graph. Someone can buy stock in the range of RS 40-38.5.

On week ended August 12, 2022, the stock managed to cross its 200-week high school (simple moving average) after multi-week consolidation and rose to fresh 5-month high of RS 389. Steady rise in volume and Future Open Interest Signals that The main market participants support the bulls.

The main technical indicator of watching bullish crossover on long -term long -term graphs, while medium -term indicators are positively ready. Stock has the potential to move towards 100 weeks of high school (RS 464) at first and the highest level December 2021 (RS 487) next.

In terms of decline, the stock will find support around the formation of the low higher low -new, which is placed in RS 340.

After a higher reversal level, the stock found support around its polarity point, which was placed around the 1,700 hospital. Then, the stock forms a base around that point and moves above the average key moving (EMA 20 weeks and 50 weeks).

The weekly RSI was reversed again from the Bull Market support zone (40-33) and gave a purchase signal. In the past, the stock watched a big rebound after the identical reversal at RSI. We believe that history is repeated by itself, which will support a healthy bouquet in stock.

We continue to believe that the stable step above the main move will accelerate in undergoing positive momentum, which can bring stock to 2,390 hospitals, where the previous swing was previously placed. Fresh long position can be started at the current point and at the reduction in RS 2,000 for the desired action.

On the bottom side, the stock will find support around 100 weeks of high school (placed in 1,792).

After a higher reversal level (eg 74 percent dropped from the previous peak level of RS 999), the stock forms a base around the long -term demand zone (placed between RS 265 and RS 290) and ready for rebound.

On the week ended June 24, 2022, the stock had formed a bullish pattern around the demand zone that managed to benefit with the help of consolidation.

The main technical indicator is a positive calm signal that the stock is on the turnaround. Stock has the potential to move towards RS 390-405-430 in the short term. In terms of decline, stock will respect the long -term demand zone.

ABFRL has been in a secular uptrend after low swing level RS 221 ODD and is currently floating far above all exponential movements mainly on the daily graph.

Stocks have received traction in terms of the volume of several recent and new trading sessions seeing the escape from the rigid resistance zone at RS 280.

Also, in the technical field, the main indicator is on the bullish track, supporting the continuation of the uptrend. Therefore, we recommend buying shares for the RS 315 trading target. Stop-loss is placed in Rs 275.80.

UBL has seen a strong reversal of this new escape zone and is currently floating far above all exponential movements mainly on the daily graph. Meanwhile, the stock has been reversed from the lower ribbon of the Bollinger and completed above average.

Even in the technical field, the 14-Perimeode of RSI (relative strength index) has been placed in a comfortable post-crossover comfort zone, which shows the momentum to continue in the near future. Therefore, we recommend buying shares for the 1,720 RS trading target. Stop-Loss to be placed in RS 1,570.