Will Market take U-Turn or more downfall will come?

WEEKLY EQUITY BULLETIN FROM 07 FEB TO 11 FEB 2022

In the last week, BSE Sensex added 1,444.59 points (2.52 percent) to end at 58,644.82, while the Nifty50 rose 414.35 points (2.42 percent) to close at 17,516.3 levels. The BSE Large-cap Index and the BSE Small-cap index gained 2.5% & 2.3% respectively while all the sectoral indices ended in the green with the Nifty Metal index added 6.6%, Nifty Pharma index rose 4.6% and the Nifty FMCG index added 3.6%.

Foreign institutional investors (FIIs) sold equities worth Rs 7,695.27 crore, and domestic institutional investors (DIIs) bought equities worth Rs 5,923.71 crore.

Nifty Futures

On the weekly basis, the Nifty future has resistance around 17800, if it breaks and closes above 17800 will see an upside rally till 18300 and further to 18500 levels in upcoming trading sessions.

Major support around 17300, if it breaks & closes below 17300 will see sharp downside panic till 16875 and then to 16500 levels in upcoming trading sessions.

Intraday Levels

Nifty Future has resistance around 17620, breaks above 17620 will see intraday upside movement till 17750---17800 levels while Support around 17450, breaks below 17450 will see intraday sell-off till 17300---17230 levels on the Monday trading session.

Bank Nifty Futures

On the weekly basis, the Bank Nifty future has resistance around 39500, if it breaks and closes above 39500 will see an upside rally till 40250 and further to 40800 levels in upcoming trading sessions.

Major Support around 38000, if it breaks and close below 38000 will see downside fall till 37200 and further to 36800 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 39000, breaks above 39000 will see an intraday upside movement till 39350---39500 levels while Support around 38500, breaks below 38500 will see intraday sell-off till 38250---38100 levels on the Monday trading session.

Weekly Top Pick Stock

Marico Limited

Buy MARICO FUTURE around 500 with a stop loss below 480 levels for an upside movement till 535---550 +++ levels in days to come.

Carborundum Universal Ltd.

Buy CARBORUNIV around 885 with a stop loss below 850 levels for an upside target of 950+++ levels in days to come. *T&C Apply...