Share Market Outlook For This Week: On the first trading day of this month, on August 2, Sensex (BSE Sensex) and Nifty (Nifty 50) gained more than 0.70 percent. The market got the support of IT and realty stocks today. Today the biggest gain on Sensex and Nifty was in Titan, the favorite stock of Big Bull Rakesh Jhunjhunwala. Investors have bought in banking stocks today, although HDFC Bank fell 0.21 percent and ICICI Bank 0.17 percent on the Sensex. At the close of trading today, the Sensex rose by 363.79 points to 52,950.63 and the Nifty gained 122.10 points to close at 15,885.15. Let us know from the experts how the market situation will be this week and whether Nifty will cross the figure of 16 thousand.
Deepak Jasani, Head of Retail Research, HDFC Securities
According to Deepak Jasani, Nifty has started the week with a strong advance-decline ratio. It is expected to remain strong in the next few days as well and Nifty may remain in the band of 15817-15962.
Vinod Nair, Head of Research, Geojit Financial Services
Vinod Nair said that the global sentiment, domestic sectors like realty, auto, IT and chemical have given a boost to the Indian market. There has been a recovery in the sale of vehicles in July and the registration of property has helped these sectors. He said that with the help of a package of $ 1 trillion for infrastructure spending in America, global markets have started this month with a strong base.
Rohit Singre, Senior Technical Analyst, LKP Securities
According to Singre, Nifty can remain close to the 15815-15750 zone and the resistance is at the figure of 15920-16000.
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Manish Shah, Founder, Niftytriggers
According to Shah, the support for Nifty is at 15750. If Nifty moves above 15960, then the market can go up to 16200-16300. He said that this could be the best buying opportunity in Nifty in the coming two months.
Sumeet Bangadia, Executive Director, Choice Broking
According to Sumeet Bangadia, Executive Director, Choice Broking, Nifty has support at 15750 level, while there is resistance at 15960 level.
(Story: Kshitij Bhargava)