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Nifty: 12000 level, 11700-11450 support level, the absence of ordinary investors will be an indicator in the rise for two consecutive weeks!

Shehnaz by Shehnaz
October 11, 2020
in Money
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Nifty: 12000 level, 11700-11450 support level, the absence of ordinary investors will be an indicator in the rise for two consecutive weeks ...!
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Most of the market experts are unanimously saying that the Nifty will now cross the 12000 point level after witnessing a seven-day rally after the modest softening of the Nifty from 10800 points. The heavyweights, especially Reliance Industries, IT majors, banking and finance, as well as healthcare stocks, have crossed the 40,500-point Sensex and the Nifty 11900 points. BSE market cap is Rs. 161 lakh crore has been touched. But market movements are based on economy, fundamentals and sentiment.

The country’s economic situation is weak on paper in the eyes of the world’s top institutions, including the World Bank, as well as the RBI. But local market pundits say that after Diwali, 60 per cent of the non-farming population will have crop money and then purchases will increase. On-paper figures will respond to the real situation when domestic demand booms from December to February. Most companies have now reached pre-lockdown operations. Seeing that, the fundamentals have also been flexible. Speaking of sentiment, is there any need to prove that the market sentiment has been improving despite the market breadth being negative for the last three days?

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The stock market is buzzing for the whole week, Sensex rises 4%, Nifty Gained

A number of stock-specific incentive reports such as TCS and Wipro’s buyback, encouraging performance of other companies, the optimistic performance of Corporate India for the quarter ended September, as well as the RBI maintained the repo rate on Friday. The market recorded a two-week correction. The way the Nifty Ta. Crossed the surface of 11794 points on September 31 and is now sliding towards 12000 after 11900. At the same time, banking stocks have seen a universal rally. But the only missing factor in the market is the involvement of small and general investors. Looking at the 7-8 session move of the Nifty Midcap Index, it seems that it has been sluggish. If small-mid caps improve, a global boom could begin.

Technically, the Nifty will need to maintain two key levels of 11450 and 11700 points. Once the above crosses like a 12000 point surface, the Nifty could move towards 12200-12400 points. Speaking of the banking index, the move above 24000 indicates a strong improvement with the 200-day SMA recovering on the daily chart.

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The Sensex is up 4.68 per cent weekly

The Sensex jumped 4.68 per cent, or 1812.44, to close at 40509.49. The Nifty also rose 497.25 points to close at 11914.20 points. The midcap index fell 14765.55 points and the smallcap index fell 4.23 points to close at 14966.21 points.

SBI-UBL Bullish, bearish trend in Grasim

SBI: Bullish, last close: 198.30, Target: 212, StopLoss: 192 | On the daily chart, ’89 -EMA ‘, massive volumes as well as a combination of 5 and 20 EMAs have seen positive crossover conditions. Which clearly indicates that, in shorten, this share is worth Rs. May improve to 208-212. Stoploss Rs. 192 Keep hands.

UBL: Bullish, Last Closed: 990.55, Target: 1035, Stop Loss: 964

The government has lifted a number of restrictions in Unlock 5.0. Volume and volatility are constantly rising in this stock. The stock has a full trend reversal position. Seeing that, the stock in Shorten is worth Rs. Can improve up to 1035. The lowest is Rs. It is imperative to keep the 964 non-stop.

Grasim: bearish, last close: 745.10, target: 715, stoploss: 773

The stock has been sluggish for the past few weeks. The stock was profit-booking despite a bullish mood across the market on Friday. The Daily Chart suggests that, given the Hanging Man pattern, each of these stocks could be sold. In which the price is Rs. 715 may occur. Rs. It is advisable to adjust the strategy with a stop loss of 773. These stocks are currently showing signs of fundamentally declining.

Stock Tips: Stock market can get up to 82% returns, place bets in these 4 cheap stocks

Source: www.divyabhaskar.co.in

#Nifty #level #support #level #absence #ordinary #investors #indicator #rise #consecutive #weeks

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Shehnaz

Shehnaz

Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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