COMMENTS:

1. On 5th February, 2021, Nifty surge to new all-time high. Nifty forms robust bullish candle on Weekly charts and a bit consolidation is seen. Nifty forms DOJI on Daily Charts and indicates indecision.

2. Nifty50 has risen 9% during the week gone by. It hit an intraday record high of 15,014.65 and closed at record high of 14,925.

3. Support can be seen near 14,860 levels. 15,000-15,200 will be the profit-taking zones so if Nifty moves above 15,200 then only you can go long. Trade only with 25% of your trading capital.

4. Major News: RBI allowed retail participation in Govt. securities which can be good for Banks.

F & O Stocks

Comments-

Bollinger Bands-Stock is riding close to the upper level of the bollinger bands indicating bullishness in the stock.

RSI– It is at 69 level and expected to reach till 75-80 if the trend continues.

Volume– Volume as slightly declined from the past few sessions that was due to volatility, but nowas volatility is slightly down it is expected trend will continue.

Comments-

Bollinger Bands – Stock is riding the upper level , it broke it’s node of 200, and after retesting it has moved up indicates further bullishness in the stock.

RSI – It is at 64 level and expected to move till 75-80.

Volume– There is not any sudden variation in volume indicates trend continuation.