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Top stock tips: Will Nifty hit 11000 this week? Market Guru Anil Singhvi reveals Buying, profit booking opportunities

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Top stock tips: As the markets show greater strength, will the Nifty hit the 11000 mark? Will it be able to sustain at this level if it hits this magical mark? If you are looking for answers to these questions, Zee Business Managing Editor Anil Singhvi has an explanation. Know what the Market Guru has to say on this!

Singhvi opines that the Nifty will definitely test the 11000 mark, this week. If it has to sustain at this level, this broader market index will have to do it within this week, he says. If the market does not hit this level and hold it in this week, it will be very difficult for Nifty to do it in the near term, Singhvi he further says.

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In the last 7-8 trading sessions, the markets have shown appetite for consolidation. Over the five trading sessions, the lowest that Nifty hit was 10705 while the highest closing has been at 10813. This means that the Nifty traded in the range of 100 points during this time.

This is the opportune time to attain the 11000 mark, he says. 

However, there is a warning too. The Market Guru added that there may be a downward correction if this level is not achieved in this week.

He further said that if there is a correction, the levels may go down up to 10,500-10,550. However, this is a remote possibility and could happen only on negative triggers, he said. Currently, the trend is positive.

What Singhvi recommends

In a rising market, buy on dips, he suggests. If the investors are taking the overnight position to the next day then comfort is higher on the buying side, he adds. Even if the market closes below on a given day, it is giving better results on the next day. Every fall is creating an opportunity to buy.

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There is also a worry among some investors regarding the valuation of certain stocks because of the positive market movement. For them, there is an opportunity of profit booking, the Managing Editor said.



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