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Markets Next Week: Buoyed by the Friday closing of NSE Nifty at above 10,000-mark, Zee Business Managing Editor Anil Singhvi has said that participants are gaining confidence and Foreign Institutional Investors (FIIs) have started to put money into the markets again. He said that one of the major reasons for this rise in confidence is the US Dow Futures trading in shorter range, which has also put the brakes on high volatility in the markets.
Speaking on the triggers that will move markets next week, Anil Singhvi said, “Triggers are mainly from the US markets as the Dow Futures index is trading in a shorter range. This short, range-bound trade has contained volatility of the global markets and brought confidence among investors.”
See Zee Business Live TV streaming below:
He added that the week gone by was the best week post-COVID-19 pandemic and that was made possible only because of the rise in confidence among the FIIs.
On what should be the trade strategy when the stock market open on Monday, Sandeep Jain of Tradeswift Broking told Zee Business TV, “As Anil Singhvi is saying, markets are gaining confidence, especially the FIIs. But, it’s still advisable to go for the mid-cap and small cap stocks. I would give an intraday call for the Monday trading where one can buy Maharashtra Scooters for the target of Rs 2,570 to Rs 2,590. But, one must maintain the stop-loss at Rs 2,410 levels. For positional call for the whole week, my recommendation is Greenply Industries. It has made a close of Rs 89 on Friday and it can showcase Rs 102 to 105 levels soon. One can buy this stock maintaining the stop loss at Rs 84.”
See Zee Business tweet below:
अगले हफ्ते कैसे खुलेंगे बाजार, किन बातों का रखें ध्यान?
जानने के लिए देखिए #BazaarAgleHafte अनिल सिंघवी के साथ। #COVID19 @AnilSinghvi_ https://t.co/7ghOEEYPyT— Zee Business (@ZeeBusiness) June 19, 2020
On Friday, NSE Nifty closed at 10,244, which is highest after it made its low of 7,550 during the second wave of Coronavirus fear fueled sell-off. FIIs had a major role in this rise as they pumped in Rs 1,237 crore in the intraday trade while the Domestic Institutional Investors (DIIs) fished out Rs 881 crore on the same day.
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