In this episode of Market Minutes, Shailaja Mohapatra talks about the key events lined up in this new trading week - Jio Financial Services listing, Jerome Powell speech at Jackson Hole symposium, FII outflow trend and primary market action. Catch Santosh Meena of Swastika Investmart in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
Nifty, which has started a structure of higher highs and higher lows, is prepared for a new expansion phase, says Santosh Meena of Swastika Investmart.
While we can expect some temporary relief in frontline Adani stocks like Adani Enterprises, Adani Ports, Ambuja Cement, and ACC, there are still no signs of reversal in the other stocks of the group.
On the upside, the 18,000–18,100 area will act as a supply zone, and Nifty has to cross its 50-DMA of 18,200 for any meaningful strength.
We believe capital goods, infrastructure, and realty stocks may do well in coming years as Capital Goods and Infra sectors are coming out of 14 years of vanvas and the Nifty Realty index is breaking out 10 years of consolidation.
Technically, Bank Nifty is consolidating above the 36000 mark where 36500 is an immediate hurdle. Above this, we can expect a move towards the 37200/37700 levels.