Stock recommendations and Nifty Index analysis: By Mr. Rajesh Palviya.

Here's a summary of the key points and stock recommendations: By Mr. Rajesh Palviya.

Nifty and Bank Nifty Analysis:

• Nifty has experienced sustained selling pressure for the fourth consecutive week and has slipped below important support levels, trading below 19,400.
• The critical support level for Nifty is at 19,200, with major put writing activity observed at this level. A break below this level could lead to further declines towards 19,000.
• Call writers have been active at lower strikes, indicating a negative bias for the near-term setup.
• The expected range for Nifty in the coming week is between 19,450 on the upside and 19,100 on the lower side.
• Bank Nifty has slipped below 44,000, with critical support at 43,600. A break below this level could extend the down move towards 43,200.
• The projected range for Bank Nifty is 43,200 to 44,200 for the coming week, with a negative bias.

Reliance Industries:

• Reliance Industries experienced a recovery in the second half of the session, primarily driven by the announcement of the Reliance Jio listing.
• In the near term, there's major call writing activity at 2600, indicating potential resistance.
• If Reliance Industries manages to cross above 2600, a short-covering rally towards 2640-2660 could occur.
• The current range for Reliance Industries is 2500 to 2600, and a breakout or breakdown from this range will determine the major direction.

Stock Picks:

1. Bharat Forge:
• Buy for an upside target of Rs 1000.
• Stop loss at Rs 952.
2. Adani Port:
• Buy for a target of Rs 875.
• Stop loss at Rs 815.
3. Jyothy Lab:
• Buy with a target of Rs 375.
• Stop loss at Rs 325.

Please note that these are stock recommendations and should be considered as part of your own investment strategy. It's important to conduct your research, assess risk, and consider your investment goals before making any decisions. The stock market can be volatile, and prices can change rapidly, so it's essential to stay updated with the latest market information.

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