AFZAL LOKHANDWALA

CHAMPIONS CLUB

WEEKLY MARKET
REPORT
13 November - 19 November 2023

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 Nifty 500 Index Shows Continued
Growth

The Nifty 500 index has shown a 2% increase this

week, gaining a total of 344 points and closing at a
level of 17600. This marks the third consecutive week of
positive growth for the index. However, when
analyzing the index on a daily basis, it's important to
note that the 17650-17750 zone has been identified as
a key resistance zone. The index honored this zone in
mid-September 2023, after which there was a
significant correction, with the index reaching a low of
16466. While the index has since gained 6.9% in the
past 15 trading sessions, it is now trading near its
resistance level and may experience a temporary
pullback. Nonetheless, our recent trades have been
performing well, so we will maintain a STRONG market
stance. Given the favorable market conditions, swing
traders may consider fresh entries based on the setup
quality while booking partial profits in open positions
based on the stock-specific price action.
 Potential for Growth in Bombay Dyeing
& Manufacturing Company Limited

Bombay Dyeing & Manufacturing Company Limited, a

leading textiles company and flagship of the Wadia
Group, has been performing well since April 2023. In
just over five and a half months, the stock increased by
211%. However, on September 14th, 2023, the stock's
swing high of 166 became a resistance zone. Currently,
the stock is exhibiting a rounding bottom formation
with occasional volume spikes. Last Friday, the stock
gained 4.4%, indicating strength and the potential to
break through the current resistance zone. Swing
traders should pay attention to this setup as a
breakout could result in a substantial move for
BOMDYEING and benefit the traders in the coming
days.
 IRCON International: A Promising
Trading Opportunity

IRCON International, a specialized Indian engineering

and construction corporation focused on transport
infrastructure, experienced a significant breakout on
July 21st, 2023. This resulted in an impressive 82%
move within just thirty-five trading sessions, closing at
160 on September 11th, 2023. Since then, the stock has
been forming a base with a resistance level of 160,
which has been respected twice in the last two
months. For the past six trading sessions, the stock has
hovered near this resistance level. However, last
Friday, the stock broke out of this pattern with strong
volume, gaining 8.3% and closing at 167.6. Given the
recent price action, swing traders may consider
entering IRCON, as this setup has the potential to
break its previous high and reach a new all-time high
level. It is expected to give lucrative returns to traders
in the upcoming days.
 THE MEMBERS TRADE!

CTM Community’s
take on
#TITAGARH
THE MEMBERS SPEAK!
I accept a loss at my stop loss even if it was a great setup.
In life, I choose peace over pointless arguments, even if I'm
right. Priority: accept loss, preserve inner peace, avoid
unnecessary fights.
-Afzal Lokhandwala

AFZAL LOKHANDWALA
CHAMPIONS CLUB
Important Links
Website: link
Telegram Channel: link
WhatsApp: link