Transcription
Welcome, Ji. Managing Editor of Business, Anil Singh, is also here. Anil Sir, good morning. Both the American and Japanese markets are at life highs. Why is Gift Nifty giving signs of a decline? Good morning, Swati. See, there are two big reasons for the decline in Gift Nifty. The first big reason is that crude oil is slowly moving upwards. Although there isn't a huge difference between $95 and $97, the direction is slightly upwards, which you can see as a slightly negative sentiment. The second reason is that in yesterday's session, there was again selling from FIIs. And that too, an amount of 8000 crores. The good thing is that the net net figure of selling is slightly less. It's around 4000 crores plus. But looking at yesterday's session, it didn't seem like there would be selling of plus 8000 crores in cash. So, consider that selling figure to be a bit large. So, this is the second reason why there is some pressure on the markets. Yesterday, you also got some support due to expiry. The oversold market was bound to come down a bit due to the put-call ratio. A recovery from the bottom was certain. The put-call ratio was below 0.7. Today, that is also not the case. So, in such a situation, the short covering that was supposed to happen has already happened with yesterday's expiry. So, these are the two or three reasons why you are seeing a slightly weak start. By the way, all global markets are strong. As Mr. Bakar also mentioned, and you also mentioned, all American markets are seeing strong gains. Life highs are being made. But in the Indian markets, there is only one biggest trigger. That is FII selling, and until this stops, the situation appears to be a bit problematic. Absolutely. And what will be the important levels for Nifty and Nifty Bank today? See, in terms of important levels, if you look, the support levels are very crystal clear. 23125 and 23275 will act as support for you on Nifty. 23150, 23275, and at the upper levels, the range of 23550 to 23700 can be considered as some resistance for you. As far as Bank Nifty is concerned, 52850, 53100 will be for support. And at the upper levels, the range of 54100 to 54400 will be such that Bank Nifty might face some difficulty in crossing. So, you need to focus on this range, these levels. Thank you, Sir, for talking. We will meet again in a while.