Nifty Technical View & Analysis 13th March 2021

In this week’s Nifty Technical View & Analysis, We will look at major stocks in the Indian share market. Global market cues were highly volatile last week.

State Bank of India has traced back to 380 level. This is good for entry.

HDFC Bank is in a range-bound. I will still wait until the end of March 2021 for any entry and exit.

Axis bank is trading below VWAP level and the downfall in recent days might be due to profit booking. If you don’t hear any bad news and the company shows a fall in share price, the causal is likely because of profit booking.

ICICI Bank is tumbling within the 600-650 range. ICICI Bank stock price is a major player in Bank Nifty Index and holds 20.05% weightage in Bank Nifty Index.

There are no major changes seen in Indus India bank as it is falling in line with other Bank Nifty index.

Even though Bank Nifty entered into the Profit booking phase, RBL bank share price shows strong support near the 240 range. RBL Bank stock price has 1.74% weightage in Bank Nifty

Due to the rise in Crude oil prices, BPCL stock price soar above 2%. Not only that, but the Indian Oil( IOC) share price also rose more than 2%.

Jet Airways still waiting for NCLT approval to start its commercial flights. However, I would invest in small quantities when the stock price falls and sell it when Jet airway’s share price closes more than 50% or touches the upper circuit.

JSW Steel stock price is trending in a range bound and may fluctuate as per news and policies.

SIEMENS stock price has been trending near 1900. I would wait for this stock to fall near 1600 before making any entry. SIEMENS is a major key player in the energy sector.

Reliance Industries stock price is trading near 2100. The momentum is stalled for the last couple of weeks. Any sudden rise in stock price should be observed and monitored for some time before entering any position.

The PRESTIGE share price is in a pure range bound. Reality stocks are not doing well due to real estate’s poor performance in a pandemic.

MRF is a high-value stock and I would look out for 9 days exponential moving average and 34 days exponential moving averages combination for good entry and exit.

COAL India’s share price rose more than 10% due to policy news on coal industries. I would hold my stocks before some concrete news is distributed from Government. The stock has the biggest reputation for giving dividends. The global climate change policies impacted the demand for coal.

LINCOLN Pharma could be multi-bagger stock if it gets approval and more funding in the future. When I posted about this stock when no was discussing it, the stock price was 200. Now it has almost crossed 250 and it will be very interesting to see how this stock performance in next quarter.

TCS share price is trading in pure range bound. IT sectors overperformed in the last couple of weeks and TCS stock prices might rise in the future.

YES Bank share price is trading near Rs15. Holding a thousand shares is not a bad idea considering 5 years long term period. There are some trading restrictions and people should read them before investing in Yes Bank stock.

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