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In the truncated week beginning today, the index may march towards its last week's high of 18,178, followed by 18,350 (the high of 2022). If the index manages to sustain these levels, then a record high of 18,604 can't be ruled out with strong support at 18,000-17,900 levels
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One should avoid trading aggressively till the time market stabilises from this turbulence, Sameet Chavan of Angel One advises
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Experts remain hopeful of a rebound as the Nifty has been defending 16,800-16,900 on a closing basis for almost 10 sessions despite high volatility
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"In the coming week, 17,600 followed by 17,400 are likely to provide some cushion for the index and till the time, we do not close below these key levels, we would continue with our 'buy on decline' strategy," Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One, said
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The Nifty50 is expected to be in the range of 17,500-18,000. Only a break above 18,000 will increase momentum on the upside and trigger fresh buying, says Malay Thakkar
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Sameet Chavan of Angel One reiterated on avoiding aggressive longs and even if one wants to follow stock-specific moves, needs to be very selective.
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The Nifty 50 is expected to range between 18,000 and 18,400 in the F&O expiry week, experts said, and all eyes are on the banking sector.
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It is going to be crucial for Nifty to sustain above the 18,350-18,400 range in the short term, said Ashis Biswas of CapitalVia Global Research.
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Considering the recent behaviour of the market, it is pretty clear that the bulls are not willing to let loose their firm grip so easily, says Sameet Chavan of Angel One.
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As far as levels for Nifty are concerned, 15,820 – 15,880 are immediate resistances, whereas 15,550 – 15,450 – 15,400 are support levels.
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One should always avoid investing in bad quality businesses because as is said a rising tide lifts all the boats but the end outcome is always bad in investing if one ignores the quality aspect, Shailendra Kumar of Narnolia advised.
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As the uncertainty persists, a stock-specific approach is what one needs to follow in this market.
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The surge in coronavirus infections, an acrimonious buildup to US elections and geopolitical reasons will keep volatility high that can act as a spoilsport, say experts.
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Investors should utilize this corrective action to discover new avenues & opportunities for investing as the major trend remains intact.
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India's stock market remains one of the most promising emerging markets of the world with tremendous growth potential as several structural reforms initiated by the Narendra Modi-led government assures that tomorrow belongs to India.
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SBI's economists say the surge in equity markets is not linked to economic recovery and maybe a sign of irrational exuberance.
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As fundamentals will take time to turn positive, investors should stick to quality largecaps rather than midcaps or smallcaps.
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The Indian chemicals sector has built up world-class capabilities over the past few years and been moving up the value chain at a rapid pace.
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Largecaps or sector leaders are the safest bet during a crisis because the recovery momentum generally reflects first in these stocks, say experts.
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CLSA also retained its buy rating on UPL with a target at Rs 500 per share as Q4 revenue was 11 percent ahead of its estimates and key markets saw healthy revenue growth led by volume & market share gains, though weak gross margin led to an EBITDA miss.
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Majority of experts started advising clients to accumulate quality stocks in a gradual manner with a long term view
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As per the moving average, Nifty has drifted below its 100-day exponential moving average on the monthly time frame.
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Sudarshan Sukhani of s2analytics.com suggests selling Tata Motors with stop loss at Rs 153 and target of Rs 142 and Bosch with stop loss at Rs 14300 and target of Rs 13700.
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Gujarat Gas, Cipla among 10 stocks which brokerages have upgraded to 'buy'
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The market is likely to remain in consolidation mode in next week amid corporate earnings, Delhi assembly elections results and domestic data including IIP, CPI and WPI.
