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Nifty outlook
Nifty is in to continuation of an uptrend and is gradually moving towards the 16,000 psychological level. Support for the Nifty has now shifted upward to 15,700. BankNifty has resumed its uptrend after two weeks of underperformance against Nifty. BankNifty is expected to move towards the next targets of 35,810 and 36,500 in the coming weeks. Support for the BankNifty has shifted up to 34,750.
Nifty is in to continuation of an uptrend and is gradually moving towards the 16,000 psychological level. Support for the Nifty has now shifted upward to 15,700. BankNifty has resumed its uptrend after two weeks of underperformance against Nifty. BankNifty is expected to move towards the next targets of 35,810 and 36,500 in the coming weeks. Support for the BankNifty has shifted up to 34,750.
Recommendations
Buy Oberoi Realty (Rs 650): | Target: Rs 780 | Stop-loss: Rs 600
On June 3, the stock surpassed the crucial double top resistance of 630 on a closing basis.
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