Prep for 31 May - 04 Jun 2021

Below is how we approach next week.

i) Indices - Following the last week post, Nifty spot climbed to ATH. Charts suggest at least 1500 points rally from here in the next 6 months. The targets are indeed optimistic but note that this is following a 4 month consolidation. Weekly charts for indices as below.


Whereas for Bank Nifty, next target is 36500 followed by ATH 


ii) Stocks 

Currently long calls on Kotakbank and Heromotoco. Other stocks in radar are RBL, Zee, Coforge, M&M and PEL for longs. Short candidates are Hindunilvr and Jindalstel. Coal India has moved in a wedge lately and can give either a break out or down - ready to trade in whichever direction it breaks

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