Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says momentum still there

Nifty and Sensex closed flat on week's last trading session on Friday. Nifty closed in red after losing 10 points while Sensex managed to close in green after gaining 12 points. These indices closed at 15,163 and 51,544 points respectively.    

See Zee Business Live TV Streaming Below:

Zee Business Managing Editor Anil Singhvi said this was a week full of action despite the Indian market closing flat on Friday. Though Sensex and Nifty might not give you enough hint at a good closing, but Bank Nifty created record on Friday, he said. Bank Nifty gave its highest closing on Friday. It created record by managing to close above 36,100 for the first time ever. Sensex might appear to have gained marginally, but it also closed at its life-time high on Friday. The best thing that happened this week was that Nifty closed above 15,100 mark on all five days this week.  

Detail coverage here:

अगले हफ्ते बाजार की कैसी रहेगी चाल ?

कौन से सेक्टर्स देंगे बाजार को सहारा?

देखिए #BazaarAgleHafte अनिल सिंघवी के साथ@AnilSinghvi_ https://t.co/hkAidWtmy8

— Zee Business (@ZeeBusiness) February 12, 2021

Talking about strategy and triggers for next week, the Market Guru said, "The result season is now slowing down. There will be companies which would be declaring their results next week too, but those will be smaller in number. Full-fledged result season will end around February 15."
 

As far as crucial levels are concerned, he said as Nifty closed above 15,100 this entire week, the support range for this index will be 15,000 to 15,100. "As long as Nifty trades above this range, there is nothing to worry at all. There is small resistance around 15,250 and as soon as Nifty breaches this mark, it will attempt 15,550. For Bank Nifty, 35,500 is good support, while there is small resistance around 36,500," said Anil Singhvi.

Overall, momentum is still there and there is good chance that market will move upwards with small resistance, he said. "However, if it finds support from global market, it can further see some good rally next week too," he added.