Transcription
Welcome to Zee Business's Managing Editor Anil Singh. Anil Sir, good morning. Gift Nifty is showing signs of strength. It is 100 points up. How do we expect today's market to be? Good morning Swati. See, the signs are fine, on one hand, as you just heard, discussions are progressing, some jolts are also being felt in between, but it's okay, both countries have met, they have talked, and if such a big war has gone on for so long, then everything is not going to be fixed in one go. There will be some egos, some ups and downs, these things will keep happening. We need to focus on only one thing: how crude oil behaves, and if you look at crude, the action is clearly towards weakness. Amidst all this, even though there was a moment when Iran said the Strait of Hormuz was closed, crude oil did not gain strength. Crude oil is trading below $80. And for us, this is the biggest positive, that crude oil is not showing any strength. And as long as it is below $80, it feels psychologically good. The second point is about the market's performance. You see, Asia is showing good strength. Japan is strong by 1.5 to 2%. There is no problem here. So, my understanding is that overall global signals are fine. Over the weekend, many statements, many actions were heard and seen. But finally, overall, it can be said that the signals for Monday morning are fine for you. Along with this, one of our big important signals is that good buying figures have come from FIIs in the cash market. Net-net, even if it's small, FIIs have given a signal of buying, and that too when Nifty closed 150 points down. Bank Nifty closed down by a quarter percent on Friday. Despite this, if FII numbers have come, it is a combination of two things that is helping Gift Nifty hit a century, one is FII numbers and the second is crude oil prices which are below $80. Yes, yes Sir, perfect. Please tell us the important levels to note for Nifty and Bank Nifty. 23800, 23900 will act as support for you on Nifty, and on Friday too, you saw Swati, Nifty reversed from around 23900 and today also, I think it will not break the 23800-23900 range easily. On the upside, we can open around 23125 and after that, Nifty might try to go up to 23250. So, this is the upper range to focus on. As far as Bank Nifty is concerned, it is comparatively better, strong. Downwards, 57400-57600 will act as support. It will not break easily, and on the upside, the signal for you will be the range of 58000-58125, where Bank Nifty might also try to go. Yes, yes, thank you Sir for talking.