Strong breakout, substantial volumes, fundamentally strong, engulfing candlestick patterns.

2) Buy Tata Motors, SL 564, Target 640

Strong numbers of the company, good results, fresh breakout couples with rising volumes.

3) Buy Indiabulls housing finance, SL 117, Target 135

Fresh breakout, rising volumes, bullish candle stock pattern, trading above 10 & 20 days moving average.

4) Buy South Indian Bank, SL 16 Target 22

Bullish chart structure, trend up, higher top higher bottom formation.

5) Buy HDFC Bank, SL 1665, Target 1760

Merger positive news, fundamentally strong company, trend bullish, substantial volumes in the counter.

Weekly Outlook

*Nifty / Banknifty / Sensex / USDINR*

We have seen a historic week for the Indian Stock Market. Nifty made a new lifetime high 19201 levels, banknifty made a new high of 44787 levels and sensex made a 64768 levels. The trend of the Indian stock market is positive and we are expecting the market may rise further. Technically and fundamentally markets are looking strong.

For the next week nifty has a strong support at 18900 levels and resistance at 19400 levels. Bank nifty has a strong support at 44200 levels while resistance at 45200 levels. Sensex has a strong support at 64200 levels while resistance at 65300 levels.

We are expecting nifty may test 19400 levels, bank nifty may test 45200 levels and sensex may test 65300 levels. FIIs inflow, positive economic data and positive cues from the international market are the major supportive factors for the Indian stock market. Rupee is strengthening against the dollar which is also positive for the market. We are expecting that Rupee may appreciate and may test 81.50 to 81 levels very soon against the dollar.

Updated: 02 Jul 2023, 03:12 PM IST