Transcription
And today, a special welcome to Zee Business's Managing Editor, Anil Singhvi. Anil Sir, good morning, and it's a special good morning and wishing you a very happy birthday from the entire Zee Business family and all our viewers.
Thank you, Swati Ji, to you and the entire team, and to all our viewers as well, thank you very much on your behalf. May the affection and support of all of you always continue in this way, just as you have wished me on my birthday. This is my wish. Thank you so much.
Thank you, Sir. Today is going to be even more special. For now, let's start with the strategy. Sir, what is your mood and feeling about the market today? Regarding the new developments between America and Iran, do you see any impact?
See, it is true that a lot is happening between America and Iran. On one hand, America is showing signs of softening, while on the other hand, Iran is showing signs of heating up. It is also true. Iran's strength is very clear: if on one hand there is dialogue with America along with a ceasefire, and on the other hand, the fight between Israel and Hezbollah continues between Israel and Lebanon, then perhaps they will not accept it. And for this reason, they have threatened to stop the talks. But yes, Trump wants to continue the talks. And Trump's stance for a change might appear very soft to you. Crude oil, amidst this volatility, has gone up to $98 and is now around $95 again. The American market is oblivious to all these things. In fact, the American market is assuming that small things will keep happening in between. But the point is that the American markets are making life highs, and the market has stopped reacting to negative news and is trying to react more to positive news. So, these are all the important things. But the point is not what is happening in the global markets and what all these things are. Ultimately, the point is simple: why are our markets not able to rise even on good news? The simple thing is that the number of FII selling, which you have been seeing continuously for the last two-three sessions, is proving to be a bit heavy for the Indian markets, and the large fall of nearly 200 points in Gift Nifty has less contribution from Iran and America, and more from our FII selling.
Yes, absolutely, Sir. In such a situation, what important levels should be noted for Nifty and Nifty Bank? We have already come very close to important levels, and you can consider these as the last hope. From where, if we weaken at any moment, we will open up for a new decline. 23125-23275 will act as strong support for you today. I hope it doesn't go below this. On the upside, the range of 23550-23675 can be considered as resistance for you. As far as Bank Nifty is concerned, the range of 52850 to 53200 can act as good support for Bank Nifty. Above, 54150-5400 is a supply zone, and if, though the chances of reaching there are slim, but if by mistake it reaches there, then you will see profit booking and selling coming in. So, keep an eye on these levels today. Yes.
Yes, thank you, Sir, for talking.