Market Guru Anil Singhvi advises investors not to create new positions; wait till Monday - Know why
Even as the domestic stock markets traded positively for the entire day and ended with strength on Friday to close the week on a high, Zee Business Managing Editor Anil Singhvi during market hours had advised investors to remain cautious and not make any new positions. His advice for investors was to wait till Monday when the markets reopen on Monday.
Even as the domestic stock markets traded positively for the entire day and ended with strength on Friday to close the week on a high, Zee Business Managing Editor Anil Singhvi during market hours had advised investors to remain cautious and not make any new positions. His advice for investors was to wait till Monday when the markets reopen on Monday.
This is what he said while giving his take on the market movement. He said that Nifty50 ending above 16,600 will be a good indicator for the Indian market. And, if the market closes above 16,850, it’ll give us the confidence that even North Atlantic Treaty Organization (NATO) and the US get into war with Russia, the Indian market won’t come down below 16200.
The last significant fall was witnessed on 21 December when the 50-share index fell to 16,614. It gave a closing at 16,250 yesterday. He said that it was important for markets to end above 16,614 to indicate some recovery and which the Nifty50 did. Though, it missed the 16,850 mark.
Nifty50 managed to end at 16,658, gaining almost 400 points or 2.5 per cent from the Thursday closing levels.
Market Guru cited Data and said that the immediately strong support in Nifty50 is seen at 16,500. The trend will change if it closes above 17075-17150. Where around 38 lakh are in share option of put, it is as good as highest open interest rate in 16,500.
Singhvi said, from now there is no visible risk of more than 150 points in nifty. It is possible the market will fluctuate between 16600- 16700.
Coming to Bank Nifty, the market would not close below 36000, and if it closes above 3700, it’ll be great, he added. Nifty Bank also gained over 1200 points to end 36,470.
His advice to investors is to hold on to what they already have without getting into any new positions.
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नई पोजीशन ना बनाएं, सोमवार तक इंतजार करें…
निफ्टी में 16600 के ऊपर बंद होना आज जरूरी…
17075-17150 के ऊपर बंद होने पर बदलेगा ट्रेंड...
बैंक निफ्टी में 36000 के ऊपर क्लोजिंग अच्छी...LIVE https://t.co/QTsT7fZ0ea#AnilSinghvi | @AnilSinghvi_ pic.twitter.com/6dlPCYKNW3
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08:06 PM IST