Dont panic on Nifty 50 correction, says Anil Singhvi, tells stock market investors 11,000-mark critical
How important is the Nifty 50 level between 10,950 and11,000? What part will it play on stock market sentiments? Will the markets be able to sustain at these levels? If you are looking to make money on stock markets and these questions are bothering you and you dont know what to do, then dont worry, Zee Business Managing Editor Anil Singhvi has the answers for you today
How important is the Nifty 50 level between 10,950 and11,000? What part will it play on stock market sentiments? Will the markets be able to sustain at these levels? If you are looking to make money on stock markets and these questions are bothering you and you don't know what to do, then don't worry, Zee Business Managing Editor Anil Singhvi has the answers for you today.
Critical Nifty Level
The Market Guru said that the 11000-level is crucial and if the Nifty 50 breaches this level in the downward direction, then it is indicative of the fact that markets are now preparing to see some correction.
Though it appears that the Nifty will be able to hold on to around 11000-mark, Singhvi said, citing the trends over the last three trading sessions. Singhvi said that Nifty has been making lower highs and lower lows. Even the Friday close was negative but Nifty ended at 11026, he said.
Watch Zee Business Tweet Video Below:
Timewise Correction
The stock market will have to breach the 11000 mark convincingly and hold on at that levels for some time to see a correction, he said.
Otherwise, this is just a timewise correction and the investors should not be surprised to see a 200-300 point correction. Why? After having seen a strong rally, that is what trends can lead to.
And what is the way forward?
If investors think that there could be a correction in the market, they have to just watch for one trigger which is the 11000 Nifty level.
The Market Guru said that the investors should reduce their positions in case Nifty comes down below the 11000 mark and stays there for some time. If the level of 11000 is breached in the downward direction, the Nifty could go up to 10750-10800. The channel will then review if a 500 point correction would be possible from there, he said.
If Nifty continues trading at 10950-11000 levels, it means that the market is still in the upward trend.
Critical Input
The Market Guru said that investors should also be prepared for one big movement when it comes. He said that there will be a very high momentum around 11300. Be ready, he said.
The trading range on the closing basis is very clear and the investors have to watch 11000 and 11300 levels.
See Zee Business Live TV Streaming Below:
He advised investors to know their stop-loss.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.