Share Market Analysis : Buying in realty and IT stocks on Thursday, Sensex and Nifty-50 rose half a percent. Due to heavy buying in these stocks, the Sensex climbed 255 points to close at 53,159 points, while the Nifty-50 climbed 74 points to reach 15,294 points. Due to the tremendous interest of investors in the shares of both the sectors, the Sensex touched a new high of 53, 266 in intraday trading, while the Nifty reached the level of 15,952. There has been a discussion among those watching the market, what turn will it take after touching new heights. Will Nifty jump further from here? Let us know what the experts say.
Nifty was successful in crossing 15915. This was being considered as resistance and the eyes of the market were kept on it. This is expected to strengthen Nifty-50 and its level can go up to 16,100. The market is getting support at 15,700. Looking at this level, traders can take long positions or buy intraday downside.
What is the opinion of experts
According to ThincRedBlu Securities, traders should buy from today’s top and a target of 36,500 and 37,000 can be set with a stop loss of 35,700. Mohit Nigam, PMS Head, Hem Security, says that there has been an important support of 15600 downwards in Nifty. He believes that Nifty can go up to the level of 16,400. Today it seems to be happening after closing at 15900.
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Sumit Bagadiya, ED of Choice Broking, says that at present, support is visible at 15,800 in Nifty. If it sustains above 15,900, then it can come up to 16,100-16200. On the other hand, Vinod Nayar, Research Head, Geojit Financial Services, says that the level of Nifty may increase as the Asian market is positive due to better economic data than expected from China. The global market has also gained momentum due to the statements of the Federal Reserve. The Indian stock market will definitely get the benefit of this.
( Article : Surabi Jain)
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