Monday, April 22, 2024
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Stock Market Outlook: Anil Singhvi reveals what investors must keep in mind


The Stock Market ended the week in the green, up by over 0.5 per cent. While the BSE Sensex climbed 214 points, Nifty 50 gained by 60 points. Nifty Bank was also up by over 300 points in the Friday trade. The market traded in a range-bound manner. However, the coming week will be an entirely new ball-game. Zee Business Managing Editor Anil Singhvi tells investors what is likely in store for investors next week. (#BazaarAgleHafte) 

Singhvi said that the markets did strong business on Friday despite trading within a small range. He particularly praised Bank Nifty performance. Mid Cap and Small Cap stocks are having a feast as several are trading in the upper circuit of 10-20 per cent on a daily basis.

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This kind of ending on the last day, shows the strength of the markets, the Market Guru said. In short, this was an excellent week for the markets. 

About Monday’s strategy, the Market Guru said that the Nifty levels around 11,250 and 11,300 are now acting as strong support zones and there could be buying opportunities around these levels. The levels between 11,400 and 11,500 will offer some resistance.  

He said that the next week is critical due to the futures trade expiry. There will be a lot of action as positions around this time increase immensely. 

But Nifty and Bank Nifty are giving indications of strong upward trends, the Managing Editor said.     

Seconding Singhvi’s opinion, market analyst Sandeep Jain said that this week was very good for the markets and mid cap and small cap stocks have outperformed. 

He said that he expected the rally to carry on into the next week as well. Even the sectors which were not doing good have been seeing some action.

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Top Stocks to Buy: 

Jain recommended a stock from the paper sector as the Monday Buy call. He picked West Coast Paper Mills and ICICI Securities.


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