Nifty outlook: The stock market closed in green mark on the eighth consecutive day on Friday. This is the longest lead in the last one year. The Nifty reached a two -month high level and closed over 25,100. The index opened with a gap of 70 points and showed further growth from morning to afternoon. Then it became slightly stable. The overall boom in the market strengthened the rally and the Nifty rose 109 points to close at 25,114.
Now on Monday, September 15, how will the market move, which levels will be important, we will understand it from experts. But, before that we know what happened in the market on Friday, September 12.
Which shares shown the stir
In nifty BEL And Bajaj Finance increased the most. At the same time, Eternal and Hindustan stayed in Unilever Top Loser. Shares of big and small companies also performed well. Nifty midcap increased by 0.3% and Smallcap 100 went up 0.6%. On Friday, both foreign and domestic institutional investors remained buyers in the cash market.
Finance and metal sector increased by 1%. The IT index had a slight increase, especially in Infosys shares, which 18,000 Has announced the biggest buyback of crores so far. The shares of defense sector companies rose. Due to this, the Nifty India Defense Index increased by more than 4%. This increase was gained from getting new orders.
Global market signs
The Indian market fierce was according to the global market. The hope of reducing the interest rate by the US Fed next week boosted investors’ morale. There is a possibility of a 0.25% deduction after weak US employment figures. This weakens the dollar, attract foreign investment, borrow is cheaper and increases the trend of taking risks.
Investors will now also monitor the decisions of Bank of England and Bank of Japan, as they can affect global liquidity.
Expert opinion on Nifty
Siddharth Khemka of Motilal Oswal said, ,The market mood remains positive in the near future. However, there may be ups and downs around the Central Bank announcements. Progress in Indo-US trade talks may further increase investors’ confidence.,
What are the Nifty 50 charts showing?
The Nifty closed over the last eight weeks of weekly closing level 25,100, giving positive signals. The index is trading firmly over the major short-and long-term moving average.
According to Nilesh Jain of Sentrum Broking, a breakout from the Simatricical Triangle Pattern on the Daily Chart has indicated further further boom. His Conservative Target is 25,500. He has described 24,900 immediate support level around 50-day moving average. According to Jain, a little profit booking may occur after a loud rally. However, he has advised shopping on fall.
SBI According to Sudeep Shah of Securities, Nifty has crossed 25,025-25,035 resistance levels of previous seasons. He says that support is at 25,050-25,000, and if 25,000 is broken then it can go up to 24,900. The upward speed index can be carried up to 25,200-25,250.
Can go up to 25,350-25,400 Nifty
Hdfc According to Nagraj Shetty of Securities, if the Nifty remains above 25,000-25,100, it can go up to 25,350-25,400. At the same time, support is at 24,900.
Lpk The metaphor of securities said that around 25,000 is offering strong put writing support. As long as the index is above 24,850, the approach will be positive. Rally up to 25,500 rally is possible from going above 25,150.
What are the Nifty Bank charts showing?
The Nifty Bank closed at 54,809.30, with a gain of 0.26%, and a total of 1.28% rose this week. SBI According to the Shah of Securities, the support is at 54,600-54,500, while the resistance is at 55,100-55,200.
According to Om Mehra of Samco Securities, the outlook is stable, and as long as the index is above 54,300, shopping on the fall (Buy-on-Dips) The right strategy will be.
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