Will Nifty BREAKOUT above 15000 levels? Market Guru Anil Singhvi says THIS, highlights KEY reasons - All details here
Zee Business Managing Editor and renowned Market Guru Anil Singhvi has said that there are good chances that Nifty may go above 15000 levels. Market Guru said that Nifty has a strong support in the range of 14150 – 14400 and 14800 – 15050 is the resistance zone for Nifty. Markets are trading in this range for some time now
Zee Business Managing Editor and renowned Market Guru Anil Singhvi has said that there are good chances that Nifty may go above 15000 levels. Market Guru said that Nifty has a strong support in the range of 14150 – 14400 and 14800 – 15050 is the resistance zone for Nifty. Markets are trading in this range for some time now.
Singhvi added that markets made a high of 15044 on 29th April and reversed from there and touched 14416 on Nifty. Singhvi said that this time the recovery was stronger as markets didn’t make lower lows on Nifty. Singhvi said markets didn’t close below 14294.
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Singhvi said that now the markets need to close above 14900 levels on Nifty. This will be the first level on Breakout because Markets witnessed 14894 closing on 29th April. Markets if sustained above 15044 levels on Nifty can make 15100 or 15200 on Nifty in next couple of sessions.
किन 4 वजहों से निफ्टी जाएगा 15000 के पार?
अनिल सिंघवी- 14150-14400 निफ्टी के लिए मजबूत सपोर्ट... 14900 के ऊपर की क्लोजिंग या इंट्राडे में 15044 के ऊपर टिकने पर आएगी जबरदस्त तेजी#EditorsTake #Nifty #NSE #StockMarket @AnilSinghvi_ pic.twitter.com/lBGLaGIVcm
— Zee Business (@ZeeBusiness) May 10, 2021
Singhvi said since the markets are making lower lows, there is a possibility that Nifty can close above 14900 – 15000 levels. Global markets are looking much stronger than before fundamentally. The IS markets are showing good strength at current levels.
Singhvi said that FIIs are not sitting with excess long positions and they may continue with some buying in the markets going forward as well. Singhvi said that last week the market witnessed a sharp rally as the put / call ratio was lower. Currently, FIIs are net 53% long on Index, indicating that FIIs may continue further buying into the markets.
Singhvi said that in the last 2 weeks the FIIs were selling, that fear is no more. FIIs have certainly stopped selling in the markets. There are good chances that markets may reach at the higher end and breakout further. Singhvi said that chances of correction from higher end are not ruled out but data shows good strength as well.
Singhvi said 14900 – 15100 is the congestion zone, there is a 60% chance that the market may breakout further and a 40% chance that markets will reverse and fall from the higher end.
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