Nifty outlook: Weekends are usually to relax. However, the news of the last two days gave the investors sleepy. US President Donald Trump’s H-1B visa decisions to a possible impact on India’s IT companies, new attacks on India’s Shrimp Exports in the US, Prime Minister Narendra Modi’s address to the nation, the first Navratri and the implementation of the GST rates made by the nation, all these factor Nifty 50 and the market will affect Monday’s trading.
The Nifty will be understood by experts on Monday, September 22, which level will be important, which levels will be important. But, before that we know what happened in the market on Friday.
Nifty condition on friday
The Nifty’s bulls were hoping that they would end the week at a high level, but it did not happen on Friday. The process of creating high low levels continuously for nine days was broken. The Nifty tried to cross the 25,500 level, but eventually maintained balance at the level of 25,300.
IT stocks eye
Monday’s markets will depend on how India’s IT companies react to the Trump administration’s H-1B visa elements. Listed Infosys and Wipro shares in the US fell to 4% on Friday. Meanwhile, the White House several times clarified on whom the new rules would apply and who will be exempted from it.
Consumer-centric stocks
New GST rates will be implemented from Monday. This will focus on consumer-centered companies. , Such as auto, FMCG and consumer durables. Auto stocks continued to show up after this news and are trading at the record level most. It remains to be seen what the sale figures of this month indicate next week.
Update on shrimp stocks
India’s Shrimp i.e. shrimp stocks will also be monitored. According to reports, American Senators have introduced the India Shrimp Tariff Act to protect Louisiana’s Shrimp and Catfish industry from ‘cheap’ Indian imports. In such a situation, there will be focus on the shares of Avanti feeds, Apex frozen and waterbase.
Nifty, Bank Nifty condition
The level of 25,500 for Nifty still remains important resistance. The bottom can serve as 25,250 and 25,200 support.
At the same time, the Nifty Bank broke the trend after 12 days of continuous rise and closed below the level of 55,500. Now this has become the first important level which has to be crossed. After this, 55,700 and finally 56,000 are expected to increase.
Expert opinion on Nifty
According to Rajesh Bhosle of Angel One, the setup of the Nifty is still positive. Any decline or slight stability should be considered good for the next rally stage.
He said that the zone of 25,200-25,100 is the main support. At the same time, the level of 25,450–25,500 on the top will be important resistance. This is followed by the swing high of June 25,670. According to Bhosle, ‘Short term consolidation is more likely due to being close to overbott conditions and major resistance, but the trend will be positive.’
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According to Ajit Mishra of Railways Broking, ‘The index is reaching around 25,500 in its trendline resistance zone. If it breaks out firmly, the path of a boom up by 25,750 may open. The zone of 24,900–25,150 at the bottom will give strong support in profit-tending.
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