Anil Singhvi’s Strategy May 23: 10% Upper Circuit if BJP gets 325+ seats; Buy IndusInd Bank Futures with stop loss 1510
The domestic stock market on Wednesday, May 22, 2019, settled with modest gains after a volatile session of trade. On the day, the BSE Sensex settled above the psychological 39,000-mark at 39,110.21 after falling below that level in intraday trade.
The domestic stock market on Wednesday, May 22, 2019, settled with modest gains after a volatile session of trade. On the day, the BSE Sensex settled above the psychological 39,000-mark at 39,110.21 after falling below that level in intraday trade. Nifty was 28.80 points, 0.25 per cent, up and settled at 11,737.90 while Bank Nifty gained 218.40 points, 0.72 per cent, to close at 30,526.80.
Investors are waiting for Lok Sabha election results that will be declared today on May 23, 2019. Most exit polls forecast has predicted a majority win for the ruling BJP-led NDA.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 23:
Any unfavourable Lok Sabha election outcome to pressurise fiscal deficit & currency: JM Financial MF's Gurvinder Singh Wasan
Rajasthan Election Result 2023 Date: Check out date, time of counting of votes, results announcement of 200 Assembly seats
Weather Update: Cyclonic storm to cross Tamil Nadu coast on December 4, predicts Meteorological Department
If BJP gets more than 272 seats and forms Government without any support: Nifty will go up to 12,200-12,500 and Bank Nifty will reach the mark of 31,500-32,000.
If NDA gets more than 272 seats and forms Govt without any support: Nifty to go up to 12,000-12,200 and Bank Nifty will go up to 31,000-31,500.
If NDA gets 240-260 seat: That’s a difficult call. The market may correct 2 to 3 per cent. Support range on Nifty stands at the mark of 11,350-11,500.
If NDA gets less than 225 seats: Nifty to go down to 11,000 and Bank Nifty to 26,500.
If NDA gets less than 200 seats: Possible 10 to 15 per cent Lower Circuit.
If BJP alone gets more than 325 seats: Possible 10 per cent Upper Circuit.
Stock of the Day:
Buy IndusInd Bank Futures: Stop loss 1510 and target 1545, 1560. Results better than the market feared.