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  • Weekly Market Report 22-10-2023 (IND)

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    The weekly market report discusses the performance of the Nifty 500 Index, which decreased 1% over the past week and closed at 17,208. Analysis of daily and 75-minute charts shows minor support at 17,200 and a crucial support zone between 17,050-17,100. Given the current price action, a moderate market stance is prudent. Dilip Buildcon Ltd, an engineering and construction company, transitioned to an uptrend in July 2023 after breaking above resistance levels. The stock is developing its first base of high quality with resistance at 336. Swing traders should watch DBL as it has potential to break resistance and provide gains. Members of the CTM community have benefited from

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    The weekly market report discusses the performance of the Nifty 500 Index, which decreased 1% over the past week and closed at 17,208. Analysis of daily and 75-minute charts shows minor support at 17,200 and a crucial support zone between 17,050-17,100. Given the current price action, a moderate market stance is prudent. Dilip Buildcon Ltd, an engineering and construction company, transitioned to an uptrend in July 2023 after breaking above resistance levels. The stock is developing its first base of high quality with resistance at 336. Swing traders should watch DBL as it has potential to break resistance and provide gains. Members of the CTM community have benefited from

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    © All Rights Reserved
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    1 views6 pages

    Weekly Market Report 22-10-2023 (IND)

    Uploaded by

    wibage9267
    The weekly market report discusses the performance of the Nifty 500 Index, which decreased 1% over the past week and closed at 17,208. Analysis of daily and 75-minute charts shows minor support at 17,200 and a crucial support zone between 17,050-17,100. Given the current price action, a moderate market stance is prudent. Dilip Buildcon Ltd, an engineering and construction company, transitioned to an uptrend in July 2023 after breaking above resistance levels. The stock is developing its first base of high quality with resistance at 336. Swing traders should watch DBL as it has potential to break resistance and provide gains. Members of the CTM community have benefited from

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    of 6

    AFZAL LOKHANDWALA

    CHAMPIONS CLUB

    WEEKLY MARKET
    REPORT
    16 October - 22 October 2023

    Important Links
    Website: link
    Telegram Channel: link
    WhatsApp: link
    Disclaimer: link
    The Nifty 500 Index: A
    Comprehensive Analysis

    The Nifty 500 Index has shown promising performance


    since April 2023, but recent changes have occurred.
    On September 12th, a negative pivotal candle
    emerged, and since then, the index has been forming
    a base. This week, the index experienced a 1%
    decrease and closed at the 17208 level, equivalent to
    a 181-point drop. When reviewing the daily timeframe
    chart, it's clear that the 17050-17100 range is a crucial
    zone. Further analysis on a 75-minute timeframe
    indicates a minor support level of 17200, with the
    index currently trading near this level. If this minor
    support zone is breached, traders should keep an eye
    on the major support zone. Given the current price
    action it's prudent to maintain a MODERATE market
    stance. Traders should exercise caution when entering
    new positions and carefully monitor their existing open
    positions.
    Dilip Buildcon Ltd Shows Promise
    for Swing Traders

    Dilip Buildcon Ltd, a company in the Engineering &


    Construction industry, has been experiencing a
    downtrend since mid-December 2021 when it broke
    down its support level of 490-500. However, things
    took a turn for the better when the stock experienced
    an unexpected volume surge on May 30th, 2023, and
    transitioned to a growth stage after breaking through
    the 253-260 level on July 31st, 2023. Currently, the
    stock is developing its first base with a resistance level
    of 336. Multiple Positive Pivotal Candles have been
    observed with significant volume spurts, indicating an
    exceptional base quality. With the fresh base post
    breakout of accumulation structure and the great
    base quality, swing traders should keep an eye on DBL
    as it has high potential to break its resistance level
    and make significant gains in the near future.
    THE MEMBERS TRADE!

    The CTM community


    has reaped great
    rewards from the
    trade in #MRPL setup.
    THE MEMBERS SPEAK!
    Never forget the moments when you wished for what you have
    now. Life is a cycle of longing and gratitude.
    -Afzal Lokhandwala

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

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