Stock Market Outlook with Anil Singhvi: Market Guru reveals Nifty, Bank Nifty support range, says Monday will be 'make or break trading session'
As Selling spree continued for the fourth consecutive trading session, Nifty lost 137 points and Sensex saw decline by 434 points to close at 14981 and 50,889 on Friday.
As Selling spree continued for the fourth consecutive trading session, Nifty lost 137 points and Sensex saw decline by 434 points to close at 14981 and 50,889 on Friday. Bank Nifty was put under maximum pressure as it closed at 35,841, a 745-point loss.
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On the week gone by, Zee Business Managing editor Anil Singhvi says the correction that was witnessed on the first day of the week stretched till last trading session on Friday. "Indian stock markets opened on weak note amid weak global cues. Nifty closed below 15,000-mark for the first time since February 5. There were two major reasons behind the performance by these indices—One weak global cues and another profit booking. Overall, this entire week except for Monday, stock markets remained under pressure amid heavy profit booking."
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— Zee Business (@ZeeBusiness) February 19, 2021
As far as next Monday is concerned, this is make or break level at which we closed on Friday and if recovery is to come, this is the perfect level from where market should rebound, said Anil Singhvi. If weakness continues, Nifty may close between 14,700 to 14,850 and if recovery comes, it will try to attempt 15,250 to 15,300.
Next week will also be crucial from February series monthly expiry point of view. "Monday's trading session will be make or break as it will decide if we are bracing for fresh weakness or if we will further scale up after a running correction."
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