Transcription
Welcome, sir, to Business's Managing Editor Anil Singh. Anil Sir, good morning. Are the markets ready to extend the rally for the fifth day? Anil Sir, yes, good morning Swati, absolutely ready. There is no doubt about it. All indicators are good for Indian markets. Look at the global markets, America has again made a new record life high. A rally is visible from there. There is no problem. Nasdaq has seen a big jump. This has also happened after a long time. So, these are very good signs. There is buying from FIIs. There is buying from local funds. Both are buying together. And what could be better than this? Along with this, if you look, one after another big levels are being crossed. The market has also confirmed a breakout above 24,200 yesterday. Apart from that, see the leadership required, giants like Reliance, HDFC Bank, ICICI Bank are also ready to provide leadership. So, I think things are looking good and accordingly, the trend should be bullish. There is also good news regarding crude oil that Saudi Arabia wants to increase production. So, these are all things that are indicating strength in the market. So, both local and global support is towards a rally in the market. Yesterday also, you saw a good strong closing, and today also Nifty Bank Nifty is ready for a gap-up opening. So, in my opinion, the view should remain bullish. The strategy should be buy on dips. Today, the only thing is that it is the day of weekly expiry. The market is slightly overbought, so some profit booking might come at upper levels. That is not wrong either. And whatever dips you get, you should buy in that dip. Keep this simple strategy. Okay. Buying at support levels will be the best strategy for you. Yes, absolutely, sir. Now, amidst these positive signals, please also tell the important levels for Nifty and Bank Nifty. 24,275, 24,375, Swati, this range will act as strong support for Nifty, and if by mistake Nifty comes into this range today for any reason, then it will definitely be an excellent opportunity for you to buy. Now, coming to the upside, Nifty is indicating an opening around 24,500. 24,500, 24,400 is a small range of resistance, and after crossing that, we will see how much further it moves. As far as Bank Nifty is concerned, 57,800, 58,000 will act as strong support for you, and above that, the range of 58,500, 58,700 is such where you might see some minor profit booking, and after that, we will see how much more rally builds up. So, you need to focus on this level, this range. Yes. So, these are all the major levels for Nifty and Nifty Bank. Thank you, sir, for talking. We will meet again in a little while, and now let's move on.