Monday, April 22, 2024
Home > Stock Market > Stock Market Outlook: Anil Singhvi reveals strategy to make money going forward

Stock Market Outlook: Anil Singhvi reveals strategy to make money going forward

[ad_1]

Stock Market Outlook: After robust opening of the September series on Friday, Zee Business Managing Editor Anil Singhvi has said that the market is bullish overall and a ‘buy on dips’ should be the ideal strategy during the next week, especially on Monday.

The Market Guru advised investors to gravitate towards top shares from small-cap and mid-cap stock segments. The Market Guru said that market range has moved slightly up in the broader range of 11,500-550 to 11,700 to 11,850. He said that Bank Nifty will likely trade in broad range between 24,000 to 25,000. 

Speaking on the triggers that will lift stock market in the northward direction, Anil Singhvi said, “Strong global cues and FIIs’ rising faith in the Indian equity market will work as a booster dose for the Indian stock market. After Friday’s closing, FIIs net long position has gone up to 75 per cent, which is almost near its all-time highest levels, while strong global sentiments are further supporting the bull run. Next week, especially on Monday, we can expect it to continue.”

See Zee Business Live TV streaming below:

Speaking on the major numbers that one must keep in mind while trading next week, the Market Guru said, “NSE Nifty has now moved to a slightly higher range of 11,500 to 11,850 where it has strong support zone at 11,500 to 11,550 while it has strong resistance in 11,700 to 11,850 levels. If there is any strong correction, then 11,425 to 11,475 range at the NSE Nifty will be an ideal buy position next week.”

Watch full coverage in video below:

On stocks in focus next week, Singhvi said, “Banking stocks, especially public sector bank stocks are expected to pull major Indian indices next week as the Bank Nifty rose more than 900 points on the first day of September expiry. This is because of the rising faith of the FIIs who pumped funds heavily in the PSU banking stocks. Now, the Bank Nifty is trading in a broader range of 24,000 to 25,000.”



[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *