Weekly Market Update | Banknifty High Alert!! Auto Stocks Zooooom | Vishal B Malkan | Summary and Q&A

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May 7, 2023
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Weekly Market Update | Banknifty High Alert!! Auto Stocks Zooooom | Vishal B Malkan

TL;DR

Vishal provides a market snapshot and analyzes the performance of various sectors and stocks, offering trading suggestions.

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Questions & Answers

Q: What sectors are performing well according to Vishal's analysis?

Vishal mentions that infrastructure, FMCG, and auto sectors are doing well, with specific focus on Chola Finance, GIC, and Federal Bank.

Q: What is the key concern in the market according to Vishal?

Vishal points out that the volume in Bank Nifty is a sign of concern, suggesting potential further decline and selling pressure.

Q: Which stock does Vishal recommend for potential profit booking?

Vishal suggests booking profit on Bank of Baroda and waiting for another dip level to buy another stock.

Q: What is Vishal's suggestion for trend following stocks?

Vishal advises focusing on trend-following stocks with RSI above 60, such as Advanced GFS, TVs motor, and ABB.

Q: Which stocks does Vishal hold in his portfolio?

Vishal mentions holding stocks like Polo Tires and keeping an eye on IT stocks, emphasizing that more analysis is needed for potential intraday trading opportunities.

Q: Which webinar series is Vishal promoting?

Vishal is promoting the three free webinar series and encourages viewers to attend and learn from them.

Q: What is one piece of advice Vishal gives to traders?

Vishal advises traders to focus on the best-performing stocks and make decisions based on trend following and technical analysis.

Summary & Key Takeaways

  • The market snapshot shows that the Nifty and Bank Nifty are not performing well, with possible further decline.

  • The volume in Bank Nifty is a sign of concern, indicating potential selling pressure.

  • Vishal suggests focusing on trend-following stocks like Chola Finance, GIC, and Federal Bank, and highlights strong performers like L&T.

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