Market Analysis & Forecast for 8th February

February 8, 2021 Soumen Sadhukhan Markets 0

 

NIFTY ANALYSIS

OPEN:  14,952.60 HIGH: 15,014.65
LOW:  14,864.75 CLOSE: 14,924.25
LOWER RANGE:  14,850 UPPER RANGE: 14,950

Nifty has touched 15,000 it’s one of the psychological resistance. This is where we are observing a lot of profit bookings on the stocks. In less than 1 year Nifty has reached from 7,500 to 15,000. January months mostly earnings month. A lot of Stocks has pulled Nifty up.

NIFTY FORECAST

Nifty upper range is 14,950. If the upper range is broken we can see a potential uptrend till 15,200 and the lower range is 14,850. If the lower range is broken then support is at 14,200. Upside movement we may observe till 15,400. 

STOCK RECOMMENDATION

CompanyPriceRecommendation
DMART2887Buy above this price, buy price triggered
ITC220Buy above this price, buy price triggered.
TECHM990Buy above this price, 943 is support. Initial target 1068. Wait for entry

 

About Soumen Sadhukhan 126 Articles
Soumen Sadhukhan, is a Stock Trading Expert with strong DataScience Background. He builds and implements Artificial Intelligent Tools in the areas of Stock Trading, Commodities, Forex, etc., He also provides training and consulting on Technical Analysis of the stock market, Trading and Investment using Technical Indicator and Machine learning , Quantitative Analytics using statistical model , Portfolio Management Risk Management and Risk Optimization , Algorithmic Trading and Trading System building , Hedge fund management and other programmes
Disclaimer: Our forecasts are based on predictions from our algorithms. However and they involve risks, variables and uncertainties. No guarantee is presented or implied as to the accuracy of forecasts, projections or predictive statements contained herein. Invest at your own risk

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