Share Market Today: The share market has made a strong recovery in the last trading session. Good signals from the global market and withdrawal of foreign funds have given new strength to Nifty. But will this momentum continue? Know what the charts and experts say…
What is the reason for the sudden rise in the stock market?
Two big reasons are believed to be behind the rise of about 1% in the market on Friday. First, the hope of talks between America and Iran and the 10-day ceasefire between Israel and Lebanon have improved the mood of the markets all over the world. Secondly, investors invested heavily in the shares of FMCG and Oil and Gas sectors.
What is the next big target of Nifty?
According to market experts, a ‘long bull candle’ has been formed on the daily chart of Nifty. This means that there is still more upside left in the market. For Nifty the level of 24,400 is a small obstacle i.e. it is the first resistance. If Nifty manages to stay above 24,400, then it can touch the level of 24,800 very soon.
If there is a decline, where will the market stand?
According to market experts, the good news for traders is that Nifty has created a very strong base around 24,100. The market has been bouncing back from this level repeatedly for the last three days. Important support level for today can be between 24,000 to 24,100.
Which stocks made profits in the last few days and where was the slowdown seen?
Top gainers: Shares of Hindustan Unilever (HUL), JSW Steel and Nestle India made the highest profits.
Top Losers: Selling pressure was seen in stocks like Wipro, HDFC Life and Sun Pharma.
Small stocks dominated:Midcap and smallcap indices remained far ahead of the benchmark Nifty. Smallcap 100 index saw a rise of more than 4% in a week.
What should be the strategy of investors for today?
Experts believe that as long as Nifty is above 24,100, there is no need to panic. Every fall can become a buying opportunity. However, it is advisable to be a little cautious in IT stocks as the recovery there is slow.
Disclaimer: Investing in the stock market is subject to risks. The information given above is for informational purposes only and should not be construed as investment advice. Before investing money in any share, definitely consult your financial advisor or market expert.