Transcription
Welcome to Zee Business's Managing Editor Anil Singhvi. Anil Sir, good morning. How to understand Trump's statements and what is the big reason for the sharp fall seen in Gift Nifty? Good morning Swati. See, the meaning of Trump's statements is clear that he wants to deal but is unable to deal. This is clearly visible. Number one, number two, the good and new thing he said is that he is directly talking to Mustafa Khamenei as well. He also wants to meet him. This is a slightly positive sign in this direction. What is the main thing? How will Iran respond, and Iran's response is still not looking very strong. Even though they attacked Kuwait quite a bit yesterday. So, nowhere is there a very big positive or a very big negative that one can understand as a big escalation or a renewed fight, that is also not visible. It's not a big positive either that America wants it but Iran is responding to it. So, in my opinion, the global signals are as they are, and we will simply decide by looking at crude oil what can be understood from it, and crude oil is around $96-97, so it's just moving around the same place, so there's no significant change in it. So I think the global market is neutral. As for America's weakness, after a one-sided rally of six to seven days, if the American market falls by 500-600 points, it's not a big deal, and honestly, if you ask me, we shouldn't even fall looking at them, we didn't grow by looking at them. Now, your question is why Gift Nifty is down? Why is it showing a fall of almost 200 points? The only reason for that is the figures of FII selling that came in yesterday's session. We are continuously seeing FII selling. You have seen selling of plus 5000 crore in cash. But, but, but the net selling of 11770 crore, combining index stock futures and cash, is quite significant. So, I think the market is a bit nervous because of that. So, these are all the negatives. In the meantime, of course, there are also discussions in the market that in yesterday's cabinet meeting, perhaps the issue of FII taxation was discussed somewhere, and some further action may be taken on it. So, my understanding is that if we open with a very big gap, we will also stop around the support levels. There doesn't seem to be any panic. There is weakness, no doubt about it. But weakness is one thing, and panic is another. So, I think there are only two negatives in the market at this time. One is FII selling, and the second is pressure on IT stocks. Apart from these, other things are okay. There is no major problem. Yes, absolutely. Sir, now what will be the important levels for Nifty and Nifty Bank? Yesterday's low on Nifty is 23150. You know that the gap that needed to be filled on April 7th and 8th, Nifty finally completed its work yesterday and bounced back from the low of 23151. So, the first thing is that your support starts from there, and your support for today also starts from there. 23150-23275 is the range as support. I think Nifty should hold here, and if it opens 200-250 points lower, it will be an opportunity to buy for you. New and major weakness will be seen if it closes below 23100, remember, to close. Today is the weekly expiry day. So, if it opens with a big gap, a recovery can also come from around the support levels, and this is what is happening. If it opens with a big gap, it comes down. If it opens lower, a recovery also forms. In this recovery, Nifty will once again attempt to go up to 23450-23550, and then we will see how much more strength builds up. As far as Bank Nifty is concerned, 53250-53475 will act as the first support for you on Bank Nifty, and on the upside, the range of 54300-54600 is where some profit booking and selling are also likely to occur in Bank Nifty. So, these are the levels to watch. Be alert, be cautious. There is no reason to panic. Yes, perfect, Sir. Thank you for talking to us. We will meet you again in a little while.