Stock Markets on Monday – Anil Singhvi gives Nifty, Bank Nifty support levels, key indicators when markets reopen
Zee Business Managing Editor Anil Singhvi said the last trading session was quite eventful as the stock markets traded strongly. The markets started on a slow note only to pick up later, Singhvi said. He said that Nifty breached the 16,400 mark for the first time and carried on from there. He said that the life highs for Nifty is now recorded at 16,543
The stock markets ended the week with a bank as both BSE Sensex and NSE Nifty 50 touched their record highs. Nifty gained by almost 116 points to end the day at a lifetime high of 16,529.10 while the Sensex ended up almost 593 points to settle at 55437.29. Nifty Bank also climbed 232 points to close at 36169.35.
The Foreign Institutional Investors (FIIs) purchased Indian Equities worth Rs 819.77 cr. Meanwhile, the Domestic Institutional Investors (DIIs) bought Indian equities worth over Rs 149 cr.
See Zee Business Live TV Streaming Below:
Zee Business Managing Editor Anil Singhvi said the last trading session was quite eventful as the stock markets traded strongly. The markets started on a slow note only to pick up later, Singhvi said. He said that Nifty breached the 16,400 mark for the first time and carried on from there. He said that the life highs for Nifty is now recorded at 16,543.
Though the bank Nifty is still at some distance from its life time highs.
The only worry was mid cap and small cap stocks, which saw profit booking, the Managing Editor said.
The Global market cues were strong which were the reasons for domestic bourses seeing a great momentum. There are also indications now of buying by the FIIs and DIIs. Markets were also exhibiting oversold and short positions which triggered the upward movement, the Managing Editor said.
On Monday, when the Markets reopen, cues will definitely come from the US markets, Singhvi said.
Anil Singhvi Nifty Support Zone – The Managing Editor said that 16,350-16,400 will be a strong support zone. The Nifty will try to reach levels between 16,600 and 16,700.
Anil Singhvi Bank Nifty Support Zone – As for Bank Nifty, the support is at levels around 35,800. If it manages to stay around 36,300, the next levels that it may proceed towards is 36,700.
If the Global cues remain weak during the opening session, there will be opportunity of buying at support levels, Singhvi said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
PM Modi has invested in this post office scheme; know his total worth as per Lok Sabha elections 2024 affidavit
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
04:26 PM IST