Stock Market Strategy: Anuj Singhal, managing editor of CNBC-Awaaz Said that the Gift Nifty is giving a salute of 500 points to the ceasefire. The high levels of Nifty between 2 and 6 May were between 24,510 and 24,590. Today will probably start from those levels. This means that as soon as the market opens, the entire decline related to the war will recover. The Indian markets are now very strong and the market will be able to focus on fundamental things. Anyway, the market reaction to the results has been good.
He further said that today is the biggest question? Should you invest on a 500 -digit gap up? See, there is any news, you cannot invest directly 500 points. Today, profits at upper levels are also possible.
War finishes, now turn business
Anuj Singhal said that Indo-Pak tension, the biggest tension in the market, ended. Small ceasefire violations occur. This is great news for global markets. US-China trade deal has been announced, details will come soon. Trump has described the conversation with China as ‘very good’. According to Scott Besant, the ‘big’ progress has been made in the US-China trade talks. Chinese officials are saying that we have reached ‘important consent’. The US-China trade deal has upgraded the dollars, DXY has gone above 100.
Jailonski and Putin will meet to discuss violence in Istanbul. On Friday, Fiis finally sold in cash and also made shorts. On Friday, FIIS added 15,000 net short short, will probably be covering today. When everything is good in the market, sometimes it also gets the top there. Maybe go to the upper levels today.
Market: What will go now and what to do?
Anuj Singhal said that today the profits should be recovered in defense shares at the upper levels. Defend shares are quite gone, today it is possible to profit booking in gap-up. However, in the long run, the defense share will now outperform. Focus on travel and tourism stocks today. Share will be in focus like Indigo, Indian Hotls. Can also focus on large private banks. Mid and small cap should now have a good rally. Now do not keep the view of trading in the market. It will be very difficult to make money in tray trading. Keep a little positional attitude and carry the deal. It is very important for Nifty to stand above 24,600. If the market may not stop today if it was closed above 24,600.
Strategy on Nifty
Anuj Singhal said that the largest congestion zone is at 24,500-24,600. 24,500-24,600 shopping zone is not there either wait for a return to 24,200-24,300 or wait for the Nifty to be stable above 24,600. It is better to wait till 9.45 and then decide. The first support after the gap-up is at 24,300 while the most important support is at 24,050.
Strategy on bank nifty
Bank Nifty has a much faster scope than Nifty. Bank Nifty can go up to 55,500 for once. There is a purchase space between 54,000-54,500. There is a large registration between 55,500-56,000. Make profits around 56,000. Keep a strict stop loss of 300 points.
NIFTY Strategy for Today: 24800 levels resting above 24523, then know what are the levels in the bank Nifty
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