NIFTY & STOCK VIEW - 3 JUN'20

NIFTY

• NIFTY has crossed 9970 range today.
• NIFTY has gone up for 5th straight session.
• One has to be cautious now as NIFTY will be in range of 9500 - 10200.
• It has already crossed the weekly range of 8400 - 9400.
• And it is in upper range of Monthly range of 8400 - 10200.
• Yesterday's Shooting Star was a false signal of bears grip in the market.
• Moody's rating downgrade was ignored completely in the market.
• Technically, NIFTY is above 5 Day Moving Average. Also, 10 Day Moving Average is above 25 Day Moving Average which shows a strength. 

STOCK IDEAS

1. ADANIPORTS

• Stock is currently trading at 340 with above than average volume.
• This stock is positive from 6th May (264 Rs/-) after taking support of 25 Day Moving Average.
• Stock has crossed important support of 324 and is above 5 Day & 10 Day Simple Moving Average.
• RSI of the stock is 63 with positive divergence.
• One should look for a buying opportunity on the stock.

CMP             340

Target          355

Stop Loss    330

2. AMRUTANJAN HEALTH CARE

• Stock is trading at 364 and closed above 25 Day Simple Moving Average with above average volume.
• RSI of the stock is above 51 which is a positive signal.
• Weekly and Monthly chart of the stock is positive and taking support of 25 Day Moving Average.
• Stock is good for holding in one's portfolio with a target of 490.
• One should look for riding this opportunity with Long or Short term view.

CMP             364
Target          398 

Stop Loss    357

You can visit NIFTY & STOCK IDEA for previous Idea's and the performance of the same. You can also Learn TECHNICAL ANALYSIS and start trading by your own.