Transcription
Welcome, Mr. Anil Singhvi, Managing Editor of Business. Anil Sir, good morning. We are seeing very big action globally and locally as well. What triggers are visible for the market in the mid-session? The signals are mixed. Let's leave aside crude oil, which is slightly up. Other than that, there is no signal that would cause you tension. Now the question is whether we should react to crude oil or to the rally in America and Asia, and also to the returning buying by FIIs, that is what needs to be decided. For now, that is why you are seeing Gift Nifty slightly down because crude oil is reaching a six-week high around $92. So that is a bit of a cause for concern. There is no doubt about that. Otherwise, in my opinion, there is no big negative trigger for the market. As far as the rest of the movement is concerned, it is a range-bound market, it is not closing below 24000 on the downside, nor is it trying to stay above 24350 on the upside. I think the same range will persist today. If there is a weak start and then we come down near the support level, then some buying will come in because everyone knows that crude oil is strong, but it is temporary. It's not like crude oil will remain high for a very long time. At least for now, the market is assuming that this rally in crude oil is temporary, and perhaps that is why Nifty is also holding above 24,000. As for the other sectors, big results have come for the banks. The banking sector is also not preparing for a big move. It should also remain so. There has been a slight pause in IT stocks for two days. I think some profit booking and selling might happen again in IT stocks today. So, it will be a mixed trade. In today's session as well, crude oil is a negative trigger for you. Other triggers are positive. So, considering both of these, there will be some volatility in the market, and a buying opportunity will arise for you around the support levels, and a good opportunity for profit booking at upper levels during recovery will also be available. So, you should be prepared for trades on both sides. Yes, absolutely sir. Now, what will be the important levels for Nifty and Nifty Bank? It's the same. Look at what happened in yesterday's session, Swati. The higher range and lower range of Nifty are exactly the same as the day before yesterday. Meaning, there is no difference in the range of Monday and Tuesday. On Monday, your high was 241266, yesterday it was 24262. The low for both days is exactly the same, 24135. So, it has been in a perfect range for two days. And I think today you will see buying again at the lower level of the range, and that is the range of 24135, which is showing you 7570 points down. In my opinion, it should open around 24125. We will see after that, and from there the support range starts for you. On the upside, it is the range of 24265-24365, where you will see some profit booking. As far as Bank Nifty is concerned, 57350-57550 is good support. It might be available today. Due to higher crude, banks might be under some pressure, and if it comes there, it can become an entry point for buying. At upper levels, it is the range of 58100-58300, which will be a bit difficult for you to cross, and you should also book profits there. Yes, yes, thank you very much sir for talking. We will meet again in a little while.