Top Stock Tips: Anil Singhvi reveals crucial levels for Nifty, Bank Nifty; calms nerves speaks on whether stock market has topped-out
Top Stock Tips: As the NSE Nifty scaled its four-month high on Monday, stock market investors and traders are wondering whether the market has topped-out.
Top Stock Tips: As the NSE Nifty scaled its four-month high on Monday, stock market investors and traders are wondering whether the market has topped-out and there can be strong correction on the Indian indices as both NSE Nifty and Bank Nifty are showing tepid trade today. In this uncertain situation, Zee Business Managing Editor Anil Singhvi has revealed that investors can know if the market has made its top only when the NSE Nifty breaks its strong support zone of 10,550 to 10,625. Calming nerves of investors, the Market Guru further added that Bank Nifty is not weak till it's trading above 21,500 mark.
On whether market has made its top, Anil Singhvi said, "We can't say directly that market has made its top because the NSE Nifty has strong support at 10,625 and 10,550. If the 50-stocks index breaches both supports then only we can say that market has made its top and now its time to sell on rise."
See Zee Business Live TV streaming below:
Singhvi went on to add that the latest rally at the Nifty was due to Reliance Industries rally because Reliance AGM is taking place tomorrow and till the AGM data is not out this short-term rally in the NSE Nifty will continue as the market is expecting some major announcement from the Sensex heavyweight, especially in the telecom space.
Watch full coverage in video below:
बैंक निफ्टी के किस स्तर के नीचे जाने पर बढ़ सकती है चिंता, किन लेवल्स पर निफ्टी दिख रहा है मजबूत?
अनिल सिंघवी से जानिए बाजार का मूड और अहम लेवल्स...#EditorsTake #NSE #BSE #Sensex #Nifty @AnilSinghvi_ pic.twitter.com/nH7YZJ8JsO
— Zee Business (@ZeeBusiness) July 14, 2020
On why Bank Nifty is not supporting the rally in NSE Nifty, the Market Guru said, "Bank Nifty is facing maximum impact due to any negative trigger and that is getting reflected in the Bank Nifty not able to seize on the benefit of the recent Nifty rally. However, I will again remind that Bank Nifty is not weak till it is trading above 21,500."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.