Market Analysis & Forecast for 18th February

 

NIFTY ANALYSIS

OPEN:  15,279.90 HIGH: 15,314.30
LOW:  15,170.75 CLOSE: 15,208.90
LOWER RANGE:  15,150 UPPER RANGE: 15,250

Asian market is almost negative. Second session NIFTY falls around 100 points.The question now is it a crash or correction. HDFC and HDFC bank contributed 50% fall in the market. Reliance has supported the market. PSU banks are bullish. Bank Nifty falls 400 points, then up by 600 points and again fall of 600 points. It was very good for an option trader. 

NIFTY FORECAST

Nifty open Interest increased at 14,500 CE, 15,400CE and 15,300CE level.Put side 15000 PE. if the market falls it may fall again up to 15,000. 15,150 level is the support. Breaking the support more consolidation will start. 

STOCK RECOMMENDATION

CompanyPriceRecommendation
ASIAN PAINT2400Buy above this price
HDFC BANK1590Buy above this price

 

About Soumen Sadhukhan 118 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