Stock Markets Today: Nifty at 11,500 soon! Anil Singhvi says bull rally reflects rising faith of investors
Zee Business Managing Editor Anil Singhvi is of the opinion that even in this volatile trend, Indian indices have maintained a bullish trend for six successive days!
Stock Markets Today: After the beginning of August Series Indian indices have remained extremely volatile but their range hasn't been so deep or long. Zee Business Managing Editor Anil Singhvi is of the opinion that even in this volatile trend, Indian indices have maintained a bullish trend for six successive days! And what is more, all sectors have participated in this bull trend. The Market Guru said that what makes this broad-based rally a perfect 'Sweet Point' is its rise with limited speed. He added that global positive sentiments have further supported this rally.
The effect of all this will be massive. The Market Guru said we may soon witness NSE Nifty hitting 11,500 mark - this week itself.
Speaking on the NSE Nifty outlook, Anil Singhvi said, "The NSE Nifty on Monday closed above 11,200 — a level which is second best closing for the markets in recent times. Since, the market has managed to sustain around 11,300, I am expecting the 50-stocks index to hit 11,450 to 11,500 levels by the end of this week or may be before the expiry this week."
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Singhvi said that the market has managed to continue its rally for sixth successive day with the limited speed because there is broad-based participation and rising volumes. In this rally mid-cap and small-cap stocks have also participated and gone northward, which reflects rising faith of market investors in this sectoral churning.
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11500 अब नहीं है दूर...अनिल सिंघवी ने कहा- एक्सपायरी के पहले ही निफ्टी पर आ सकता है 11450, 11500...मिडकैप शेयरों में तेजी, निवेशकों के भरोसे का संकेत...#EditorsTake #Nifty #Sensex #BankNifty #NSE #BSE #StockMarket @AnilSinghvi_ pic.twitter.com/2QD5iwfmTH
— Zee Business (@ZeeBusiness) August 11, 2020
Highlighting the risk factor in such a market scenario, the Market Guru said, "When market is moving northward with limited speed and there is 50-75 points correction after every level, the risk factor goes down and volume of trade goes up as we are witnessing in the last four to five trade sessions." He said that due to the rise in fresh positions after such small corrections, the market volume has gone up and this is the perfect time for the small investors to take advantage of this sectoral churning.
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