Buy or Sell: Ganesh Dongre of Anand Rathi recommends three shares to Monday - May 12 | Einsmark news

Buy or Sell: The Indian stock markets showed significant resilience this week amid rising geopolitical tensions between India and Pakistan. While markets were initially consolidated, they ended the week with only a modest decline. The Nifty index traded in a relatively close range of 23800-24600 points before closing with a net weekly loss of 338 points. Despite the downward movement, the markets kept above the most important support levels. However, the volatility rose sharply, as reflected in the India VIX, which jumped 18.49%, which closed at 21.63 weekly. In our previous analysis, we highlighted the 24,600–24,700 zone as a critical technical resistance level. This zone represents the 61.8% Fibonacci circumference of the total market drop and holds considerable importance. In addition, the 200-day EMA, which is currently around the 23,600 point, is still acting as an important support area. Technically, as long as the market remains below the 24,500–24,700 zone, a cautious prospect is justified. A sustainable exposition above this resistance achievement is essential for fresh bullish momentum. Market participants must continue to carefully monitor the geopolitical developments. Bank Nifty Bank Nifty was also a profit discussion witness, which registers a 2.5% drop for the week. It closed near its support level at 53,000. Immediate support is seen at 53,000, while resistance lies in the 56,000 zone. If he looks forward, if Bank Nifty maintains more than 53,000, it can try a recovery after the 54,000-54 500 levels. Until a strong nearby above these levels are observed, a cautious trade approach is advisable. Conclusion Both Nifty and Bank Nifty have managed to close above their respective monthly support levels for Nifty: 23.600 and for banking: 53,000 immediate resistance to 24,600–24.700 for Nifty and 56,000 for Bank Nifty, will be very important to determine further market direction. Fresh long positions should only be considered after a decisive exposition above these resistance zones. Traders and investors are advised to maintain a cautious attitude in the coming week and follow development carefully – both technical and geopolitics -. Weekly shares to buy or sell Hal at £ 4500-4525; Stop loss at £ 4300; Target price of £ 4800. Buy JSW steel at £ 955-960; Stop loss at £ 940; Target price of £ 990. Buy Sun Pharma at £ 1725-1745; Stop loss at £ 1675; Target price of £ 1830. Disclaimer: The views and recommendations above are those of individual analysts, experts and brokerage companies, not of currency. We advise investors to check with certified experts before making any investment decision.