Stock Markets With Anil Singhvi: Market Guru reveals winning strategy for next week
Tremendous uncertainty has built up in the markets with bullion skyrocketing and equity markets falling and rising, making it tough to map trends.
Tremendous uncertainty has built up in the markets with bullion skyrocketing and equity markets falling and rising, making it tough to map trends. However, Zee Business Managing Editor Anil Singhvi has cut through the uncertainty and confusion and revealed the way forward for investors in this situation in a manner that would be profitable.
Weakness Or Not?
NSE Nifty closed flat on Friday, but crucially this was above 11,200-mark. The Market Guru said that this is a big cue for the bulls. He revealed that till Nifty is closing above 11,100 levels, investors should not think there is any kind of weakness in the markets.
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Way Forward For Investors
SInghvi advised 'buy on dips' strategy for market traders and said that cash segment stocks are expected to perform better and they should continue focusing on such shares when the market opens on Monday.
Nifty At 11,450?
Speaking on NSE Nifty and Bank Nifty Anil Singhvi said, "The NSE Nifty has closed above 11,200 on Friday that means market is strong and poised to go northward. In my opinion it has strong resistance at 11,350 while it has strong support at 10,900 mark. So, currently NSE Nifty is trading in the range of 10,900 to 11,350 and once it breaks the resistance it may even go up to 11,450."
Singhvi said that maintain 'buy on dips' strategy should be continued throughout the week.
Bank Nifty At 23,000?
On Bank Nifty, the Market Guru said that Bank Nifty has strong support at 21,375 to 22,450 while it has strong resistance at 22,100. Once, it breaks this resistance wen can expect the Banking index to hit 23,000 levels soon.
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Global vs Domestic Triggers
On triggers that one should keep in mind while taking any position, Singhvi said, "Global market sentiment will remain a major cue for the markets, but even when the global sentiment becomes weak, the Indian indices will continue to remain strong as we witnessed this week. So, one should maintain buy on dips as cash segment shares are expected to attract more volume next week."
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