Stock Market Strategy: Anuj Singhal, managing editor of CNBC-Awaaz Said what after the 900 -digit rally? There may be a small decline after such a big rally. There is no need to panic with a decline of up to 300–350 points. Now the zone of 24,500-24,550 is the most important support. Yesterday there was a widening rise in the market, today perhaps select shares may rise. Tomorrow you could have taken anything else anywhere, today you have to be a little selective.
The Nifty IT may still have 6-7% rally. After tomorrow’s holiday, keep an eye on dollars and dollars today. The dollar has strengthened after the US-China deal. IT can now outperform the bank Nifty from here. If you want the next few days, make a basket of shares dependent on global business. Share outperforms like IT, metal, chemical can be done. The Nifty will probably move towards the new peak.
Market: This game is now of the Service
He further said that yesterday such a big rally and FII, DII figures nothing? FII, DII made a purchase of just Rs 2700 crore. So the big question is, who made a rally of 900 marks? The answer is, the Service, which was on the seventh sky yesterday. There are 3 reasons for 3 duration moves in the market, the first reason comes a short -term movement, the first reason comes the move of medium term due to the flow and the third long -term market tracks the results only. The rally with the sentiment has arrived tomorrow. Flows and results for the rally from here will track.
Market: What should be the game plan now?
This market is now similar to the 2000 Australian cricket team. Defeating the Australian team of 2000 was nothing less than wonder. What was special in that team? 11 of 11 is the player to win the match. When every player of you is a match winner, you are strong. Now every sector is not a sector to walk near our market, which does not have a trigger. There is only a little confusion in pharma, but it is not weak either.
He further stated that IT, metals and chemicals are the strongest in the short term. Not only will global shares run, domestic signals are also very good. There is a strong combination of good monsoon, tax cut and rate cut. A large rally can also be held in auto, real estate, NBFCs. If there is a little more correction in the defense, you will take it. The recession lasted 6 months, now let it be 6 months to increase from here.
Strategy on Nifty
Anuj Singhal said that the first support is on 24,700-24,800 (option zone) while large support is on 24,500-24,600 (previous top). Shopping zone is at 24,750-24,850. The zone to add position is at 24,650-24,750. Place a hard and tight SL of 24,500 in all positions. The first registration is at 24,950-25,000 while the big registration is at 25,070-25,175.
Strategy on Nifty Bank
The Nifty Bank was quite quite well, now it’s the turn of the Nifty. The Nifty Bank has 55,500-56,000 strong registers. The next big boom will now come when closing above 56,000. 54,500-54,800 will be a chance to fall. As long as above 54,500, there is a texture of ‘purchase in the fall’.
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