Stock Markets on Monday – Anil Singhvi gives important support, resistance levels for Nifty, Bank Nifty – small cap, mid cap stocks likely to see GREAT action

After a long weekend, the markets will reopen on Monday. The domestic markets were closed on Friday on account of Ganesh Chaturthi. The stock markets ended the week on a high. The mid cap and small cap stock were among action with the former (mid cap index) rising by 1 per cent while the latter (small cap index) growing by almost 3 per cent.

The Foreign Institutional Investor (FIIs) bought equities worth Rs 423 cr on Thursday while the Domestic Institutional Investors (DIIs) buying Indian Equities worth Rs 704 cr in cash markets.

See Zee Business Live TV Streaming Below:

Zee Businesss Managing Editor said that the Golbal Markets exhibited some weakness on Thursday. He said that the markets made a U-turn from the first support levels (Nifty 17,300). The reason was the expiry day of the Futures & Options (F&O) markets. Singhvi said that the open interest on the 17,300 Put option was highest on Thursday.

Moreover, the FIIs and DIIs also exercised restraints as there was no one sided buying or selling activity that was witnessed.

The Nifty closing was also the second best ever while the Sensex closed at a lifetime high.

Bank Nifty however traded in a range on Thursday. Small Cap Index also made a life time high which is indicative of the action in the broader markets.

Anil Singhvi Strategy – Nifty Support Zone – Levels between 17,250 and 17,300 is an immediate support zone. There is some resistance at levels around 17,425. If the markets breach this level and sustain, then the strength will be added to the markets further.

Anil Singhvi Strategy – Bank Nifty Support Zone - The support zone for Bank Nifty is between 36,400 and 36,600. The resistance zone for it will be between 36,800 and 37,000.

Watch Zee Business Tweet Video Below:

अगले हफ्ते कैसे खुलेंगे बाजार, किन बातों का रखें ध्यान?
जानने के लिए देखिए #BazaarAgleHafte अनिल सिंघवी के साथ।@rainaswati @AnilSinghvi_ https://t.co/fayp0jQRxy

— Zee Business (@ZeeBusiness) September 9, 2021

The action in mid cap and small cap is likely to continue when the Markets reopen on Monday.