Tuesday, June 18, 2024
Home > Stock Market > Will Nifty breach crucial 10,450-mark? Market Guru Anil Singhvi decodes the trend

Will Nifty breach crucial 10,450-mark? Market Guru Anil Singhvi decodes the trend


Indian stock markets have room to grow as the Nifty is trading 20 per cent below its top level at 10438, Zee Business Managing Editor Anil Singhvi. The market guru revealed money-making opportunities in large cap stocks, with local funds also showing interest in them. Even the cash market has been seeing good traction, he added.

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 The Managing Editor said that the trend now among investors is to invest in quality stocks which is giving strength to the index and helping it go upwards. There was momentum in the market and it is difficult to tell till what point the levels would go.The Nifty breakout is at 10200 and the people should be ready for levels around 10450-10500, Singhvi said.

He advises trading in the markets according to the flow of the market. The investors should know the stop loss, he added.

There is no doubt that the markets are being driven because of liquidity and the economy will still take at least 6-8 months to recover. The Market Guru warned the investors of a difficult time ahead on the economic front, not only for India but also other economies. The problem of coronavirus pandemic is still there and there is no indication of it coming down in near term. The impending US election is another area of concern.

There could be some correction when the liquidity factor subsides.

The problem of liquidity is no more there for global markets, especially the US markets. The investors have to only decide where they have to put their money — whether to put money on technology stocks that are now at a life time high on Nasdaq or in ‘all economy stocks’ with an anticipation of economy doing well, going forward.

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The Foreign Institutional Investors (FIIs) have come back to the India markets in the last few days with blue chip stocks witnessing a delivery-based buying. The FIIs have invested Rs 1237 in the cash markets.


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