Last Friday, big Indian stock market indicators didn’t move much, but they ended the week strong, with the Nifty 50 and Sensex going up. Financial and metal company stocks were the main drivers.
Here’s what experts are saying about the market:
Rupak De from LKP Securities thinks the Nifty might stay steady around 23,000 for a bit, with a possible range between 22,950 and 23,050. If it drops below 22,950, it could go down more. But if it stays above 23,050, it might go up more.
Jatin Gedia from Sharekhan believes the market’s upward trend will continue, with a new target of 23,150 for the Nifty. He suggests setting a stop loss at 22,800 for long positions.
Here’s a look at what might influence Monday’s trading:
US Market:
American stocks bounced back on Friday after some losses earlier in the week. The Nasdaq hit a record high, driven by positive news about consumer spending and inflation.
European Shares:
Stocks in Europe went down on Friday and for the whole week. Concerns about inflation and the eurozone’s recovery made investors uncertain about future interest rate changes.
Tech View:
The Nifty had a mixed day on Friday, ending nearly flat after reaching 23,000 for the first time ever. This creates uncertainty about future movements. But some indicators, like the RSI, suggest there might be more gains ahead.
Stocks to Watch:
Some stocks, like Aegis Logistics and Chennai Petro, show signs of going up, while others like Triveni India and Sundaram Fasteners might go down.
Active Stocks:
Big trading volumes were seen in stocks like Adani Ports and HDFC Bank.
Buying and Selling:
Certain stocks like Bharti Airtel and Eicher Motors are attracting buyers, while no major stocks hit their lowest point.
Market Sentiment:
Overall, more stocks ended lower than higher, suggesting a bearish sentiment.
