Will the rise in Nifty continue on Monday also, or will the phase of decline come again, know what the market expert said. (symbolic photo)
highlights
- Know what is the important support level for Nifty
- Know what is the important resistance level for Nifty
- Know top 5 gainer and loser shares of Nifty
How will the stock market behave on Monday?
According to Laxmikant Shukla, Research Analyst, Yes Securities, the market is still trading sideways with momentum. If we look at the trend of the last two weeks, we see that the market is trading between the 20 Simple Moving Average (SMA) and 50 Simple Moving Average levels. The market has retested the 50 simple moving average level 2 to 3 times. We may see a rebound from there. But as soon as Nifty reaches 26,500 level, we are seeing a resistance there. Unless both these ranges are broken, this sideways consolidation may continue.
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To what level can Nifty reach?
According to Laxmikant Shukla, Research Analyst, Yes Securities, if Nifty goes above 26,100 points, then we can see levels of 26,320 points to 26,500 points. If it again fails to cross the 26,100 mark, we may see Nifty retesting the 50 simple moving average. Which is approximately 25,700. This is a strong support. As long as Nifty is above it, we can expect a breakout from here.
Know market expert’s opinion on Nifty Bank
According to Laxmikant Shukla, Research Analyst, Yes Securities, if we talk about Nifty Bank, it is underperforming. Nifty Bank is still trading below its 20 day moving average (DMA) level. There is a hurdle of 59,500 points. If it breaks, we may see levels ranging from 60,000 points to 60,200 points. The support we can see right now is 58,700 points. According to him, Nifty will be an important support for the bank. If this level is broken in Nifty Bank, then Nifty Bank can re-test its 50 Simple Moving Average (SMA) level, which is around 58,400 points.
Know the top 5 gainer shares of Nifty on Friday
Shares of Shriram Finance today closed at Rs 905.10 with a rise of Rs 35.65. Shares of Max Health today closed at Rs 1,076 with a rise of Rs 27.50.
BEL shares today closed at Rs 393 with a rise of Rs 9.55.
Shares of Tata Motors Passenger Vehicle today closed at Rs 354.20 with a rise of Rs 8.40.
Shares of Power Grid Corporation today closed at Rs 263.25 with a gain of about Rs 5.30.
Know the top 5 loser shares of Nifty on Friday
Shares of HCL Tech today closed at Rs 1,641.80 with a fall of Rs 19.60.
Hindalco shares today closed at Rs 853.75 with a fall of Rs 2.95.
Shares of Kotak Bank today closed at Rs 2,159.60 with a fall of about Rs 5.
JSW Steel shares today closed at Rs 1,080 with a fall of Rs 2.20.
ICICI Bank shares today closed at Rs 1,354.30 with a fall of Rs 2.50.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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