Anil Singhvi sees Nifty to further gain 3% from last close: Check support and targets
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10:17 AM IST
Indian equities in Monday's trade (May 19, 2025) traded weak by a tad after hefty gains in the previous week with the Nifty50 testing 25,000 levels. Now as Nifty50 is just 5% away from all-time high hit in September last year, here's Zee Business Anil Singhvi's view on next Nifty50 targets.
Nifty's next big targets according to Anil Singhvi
Anil Singhvi on the current nature of the markets said, "Markets are showing breakout on one day and trading tepid the next day." He added that after a big breakout on Thursday, Indian equities traded on a moderate note in Friday's session.
Nifty's support and resistance levels
For now, Singhvi iterated that the support level for Nifty50 has been pushed higher to 24500-24675. First small resistance or target for the Nifty50 index is placed at 25,200-25,275, while above it targets are at 25625-25800- meaning gains of up to 3 per cent.
Nifty Bank's target
Nifty Bank as we write traded with a positive bias at 55,458. According to Singhvi, for Bank Nifty- the next support lies at 54,450-54.600, while in case if it breaches 55,650 on the higher side, a new high will be established above 56,100.
The expert added that currently, in comparison to Nifty Bank, Nifty50 trades strong.
Should retail investors make a comeback? Here's Anil Singhvi's opinion
He added the market is yet again exuding confidence with increased trading volume. Now as both global as well as domestic cues points to gain, the time is right to be again active in the market, adds market guru.
Also, one should always take note of the wrong actions taken in the previous market cycle to avoid any unwanted losses.
The market wizard advises to take positions in only fundamentally strong stocks with good earnings.
Also, he advises to avoid overtrading and only trade in the cash market. Furthermore, amidst sector rotation in the current market cycle, the analysts advise reviewing stocks that have reached their cost level.
And in a case if need be, one can exit old positions to take entry into better quality stocks.
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