ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?
  • Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July
  • Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM
  • Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

Modi 2.0: After markets skyrocket, this is what happened; expert airs view

Mustafa Nadeem, CEO, Epic Research said, "At this point, Market is trading at 11900 - 11880 and one should utilize these dips for a potential upside to 11150 in coming or rest of the trading session."

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Modi 2.0: After markets skyrocket, this is what happened; expert airs view
After the wild ride on Dalal Street that took benchmark indices Sensex and Nifty to all-time highs, they took a breather in the second half. Photo: Reuters

After the wild ride on Dalal Street that took benchmark indices Sensex and Nifty to all-time highs, they took a breather in the second half of Thursday's trading session. Notably, it was just a few hours ago, when Sensex raced past the 40,000-mark for the first time in its history, by earmarking an all-time high of 40,124.96 points. Similarly, even Nifty 50 hiccuped after notching a record at 12,000-mark - it clocked a 52-week high of 12,041.15 in early hours. 

Talking about the second half market session, Mustafa Nadeem, CEO, Epic Research said, "Indian equity market as expected touched the historical figure of 12041 and made a new all-time high."

According to Nadeem, investors are now profit booking. He says, "At the same time, we see there is some profit booking that is coming in at higher levels."

Nadeem also said, "The derivatives data that was pointing the range to be 12100 - 11500 stands firm at this point of time. There is long built up we have seen been added to 12100 - 12200 while writing is seen at 11800 - 11700 levels. This indicates the downside is limited to these numbers while we may continue to see some expansion on the upside."

Elaborating his point about Nifty, Nadeem added, "At this point, Market is trading at 11900 - 11880 and one should utilize these dips for a potential upside to 11150 in coming or rest of the trading session."

On the other hand,  Amit Gupta, Co –Founder and CEO, TradingBells said, "Indian domestic markets surged to record highs this morning as Nifty crossed 12,000 and Sensex crossed 40,000 for the first time ever on the back of early indications that NDA might secure a majority in the Lok Sabha Election results today. The markets have retracted a bit since then as we saw some profit booking at higher levels and Nifty is currently trading at 11,840."

Gupta says, "The question has now moved from whether NDA secures a majority, to whether BJP secures a majority by itself on a standalone basis. If that happens, we can see further upward movements by end of day today and also tomorrow. Once we get clarity of the next cabinet, we can see Nifty crossing even 12,200 over the next couple of sessions."

At around 1314 hours, the Sensex was trading at 39,430.69 up by 320.48 points or 0.82%. While, the Nifty 50 was performing at 11,842.40 above 104.50 points or 0.89%.

On Nifty, gainers list was led by Adani Ports at Rs 416.65 per piece up by 7.95%, followed by Yes Bank, IndusInd Bank and BPCL up between 4% to 5%.

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.

TAGS:
2019 Lok Sabha electionslok sabha election resultsSensexNifty
Written By: ZeeBiz WebTeam
Updated: Thu, May 23, 2019
02:33 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Note Sabha with Anil Singhvi on 23rd May: These 9 experts can help you earn big on Lok Sabha election result day Note Sabha with Anil Singhvi on 23rd May: These 9 experts can help you earn big on Lok Sabha election result day
On May 23, Watch Mega Poll Battle Results on Zee Business with Anil Singhvi On May 23, Watch Mega Poll Battle Results on Zee Business with Anil Singhvi
Lok Sabha election results 2019: Mark your date - May 23! Here's what to expect Lok Sabha election results 2019: Mark your date - May 23! Here's what to expect
Exit Poll results 2019 highlights: Surveys predict win for BJP, NDA; PM Narendra Modi set to return to power Exit Poll results 2019 highlights: Surveys predict win for BJP, NDA; PM Narendra Modi set to return to power
Exit Poll 2019 Results: Here's what Today's Chanakya, Republic-Jan Ki Baat, Republic-CVoter, ABP, News18-IPSOS, India Today-Axis, Times Now-VMR, NewsX-Neta predicted Exit Poll 2019 Results: Here's what Today's Chanakya, Republic-Jan Ki Baat, Republic-CVoter, ABP, News18-IPSOS, India Today-Axis, Times Now-VMR, NewsX-Neta predicted

LATEST NEWS

Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125

Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?

Opening Bell: Nifty, Sensex start flat; energy, metal, IT stocks shine

HDFC NIMs to be under pressure for a quarter: Parekh

Residential demand upbeat despite rise in construction cost, interest rate, says brokerage; picks DLF, Oberoi Realty among top 4 bets

Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy

Toyota India set to unveil Toyota Hyryder tomorrow, Check details here

Garmin Forerunner 955 Solar, Forerunner 255 series smartwatches launched in India - Check price & availability

Gold declines Rs 323; silver tumbles Rs 776

Lay-offs rise as stagflation worries mount; Zee Business' research explains impact

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV