Despite the volatility caused by the Corona epidemic for almost a whole year, the Indian stock market has given better returns to investors in Samvat 2076. After seeing ups and downs throughout the year, both the benchmark BSE Sensex and Nifty 50 closed up by 10 per cent each. New Diwali 2077 has started since Diwali. In such a situation, the question arises that how will the new year be for the investors. In which sector they should invest money, where they get better returns. Know how the Samvat 2077 is going to be for investors.
Nifty may touch 14000 level by next Diwali
There is a constant investment climate in the country and most foreign investors are considering India as the fastest growing economy. In view of this, Rajesh Palavia, head technical and derivatives of Axis Securities, says that by next year’s Diwali, the Nifty index can touch the level of 13800-14000. The Nifty is getting better support at 12400 and there will be a level of 12000 on the downsoud. However, Palavia believes that it may have to see resistance at 13000-132000.
Nifty’s better performance will continue
Milan Vaishnav, consulting technical analyst at Gemstone Equity Research and Advisory Services, believes that there may be a sectoral shift in the country. If the general economic cycle continues in the country, equities may perform better individually, but the performance of other asset classes such as bonds, the dollar index, treasures may see the downward pressure in the rupee. However, speaking overall, there will be support for the Nifty at 12100 and 11650. At the same time, the level of 13200 and 13500 resistance will remain.
Samvat 2077: here is an opportunity for investors
In the new era, it would be better for investors to focus on large caps than mid-caps or small caps. According to Vaishnav traditionally, better performance can be seen in defensive sectors like FMCG, consumption, IT and Farma. Palavia believes that with the increase in demand for private vehicles in Samvat 2077, sales of vehicles will increase. Apart from this, the FMCG sector will get support from the increasing attention of people towards a healthy lifestyle and better hygiene. Apart from this, most of the people are now understanding the importance of medical insurance and life insurance, due to which the insurance sector may also see a boom.
These sectors will be watched
The culture of work from home has increased due to the conditions arising due to corona epidemic. In such a situation, the IT sector seems to be continuously moving forward. Apart from this, many new companies have been registered during the Corona epidemic and now the old companies are slowly coming back on track after being affected by it. In such a situation, Palvia believes that they will need financial support and better banking experience and business of private banks will also increase.