Anil Singhvi says Nifty is much stronger than Bank Nifty; maps way forward for investors
Anil Singhvi says that Nifty is in a much stronger position than Bank Nifty currently. Therefore, market participants should be careful and make their entry at the right levels. Participants should not panic till Bank Nifty closes below 30200 levels and Nifty closes below 13550. Participants should stay invested in their positions keeping strict stop loss in mind.
Zee Business Managing Editor Anil Singhvi says that Nifty is in a much stronger position than Bank Nifty currently. Therefore, market participants should be careful and make their entry at the right levels. Participants should not panic till Bank Nifty closes below 30200 levels and Nifty closes below 13550. Participants should stay invested in their positions keeping strict stop loss in mind.
बैंक निफ्टी के मुकाबले ज्यादा मजबूत निफ्टी...
अनिल सिंघवी- सही लेवल पर करें एंट्री... जब तक बैंक निफ्टी 30200 और निफ्टी 13550 के नीचे बंद न हो घबराएं नही...स्ट्रिक्ट स्टॉपलॉस के साथ तेजी की पोजीशन में बनें रहें#EditorsTake #Nifty #BankNifty #StockMarket @AnilSinghvi_ pic.twitter.com/2ntZsWnkeY
— Zee Business (@ZeeBusiness) December 21, 2020
Markets have closed higher for 5thstraight week; this indicates that the market is extremely strong. Put-Call ratio in the last session (Friday last week) was 1.89 showing signs that market may see some profit booking which actually happened as indicated by Anil Singhvi.
It seems that now market is not even showing weakness for even 1 or 2 sessions, only ½ session of weakness during the trading day and market participants enter into the markets and do some buying. This indicates that the market is extremely strong. Market is giving good opportunity to buy every day and participants should use this as a good buying opportunity as indicated by Anil Singhvi previously as well.
Since past 2 weeks, Bank Nifty has been trading in the range of 30500 – 30700 / 30800, it is not breaking either 30200 on the down side or 31000 on the upside. This gives participant opportunity to buy at lower range and exit at higher range. Traders should be disciplined and keep tight stop loss if range is being broken on either side, until than they should take advantage and keep trading and making profits within the range. It is extremely important to understand that lower end of the range should be used for accumulation.
Nifty is trading more powerful than Bank Nifty and is not correcting as much as Bank Nifty. Correction in Bank Nifty is much steeper and faster when compared to Nifty as some sector serves as good defense or some large cap stock keeps the Nifty intact from falling steeply. Recovery in Bank Nifty and Nifty is equally smoother and faster, participants should take advantage of the fall to buy into the markets keeping strict stop losses.
Unless and until Bank Nifty closed below 30200, participants should hold on to long positions on Bank Nifty. Similarly, Nifty closing below 13550 would only trigger stop loss. Until then participants should not be fearful.
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In the past few sessions, markets have witnessed that even if 1stsession is weak, second session sees good buying into the markers from FIIs, taking the market higher and higher.
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04:43 PM IST