On March 22, in the second half of the trading session, there was a great bounce back in the Indian market. But the markets did not succeed in closing the green mark. In today’s business, the Sensex saw a recovery of 500 points from the lower levels. While the Nifty recovered again after slipping to 14,600.
At the end of trading, the Sensex lost 86 points to close at 49,771. At the same time, the Nifty lost 7 points and closed at the level of 14,736. Today’s business saw shopping in reality, IT, FMCG, health care. While there was profit-booking in banking finance and consumer durables and public sector.
Small and medium stocks outperformed the giants. The midcap index closed up 1 percent and the small cap index gained 0.7 percent. Fear of a second wave of corona virus and a surge in US bond yields dominated the market.
Experts say that there is significant support for the Nifty at 14,450-114,600. While the registration may face upwards at 14,900- 15,000.
Vinod Nair of Geojit Financial Service says that the second wave of Corona, rise in bond yields and weak global cues are impacting the domestic market. Apart from this, the fear of rising inflation is also affecting the market.
Let us know the opinion of the giants on what is the strategy in the market on 23 March
Motilal Oswal’s Chandan Tapadia It says that the Nifty has made a doozy candle on the daily scale and has rejected the formation of Lower High for the last few sessions. Now the Nifty will have to stick to 14,700 to move towards 14900 and 15,000. While there is significant support for the Nifty at the bottom, 14,600 and then in the 14,450 zone.
Mazhar Mohammed of Chart View India Says that for now, short-term traders are advised to wait for a move above 14,790 in the Nifty to take a long position. For this, keep the target of 14,950 and make a stop stop around today’s intraday low.
Shrikant Chauhan of Kotak Security Says that the Nifty has created a hammer pattern and is in the previous day’s trading range. Any such trend can give a big move on any side. If the market goes above 14,800 on March 23, then it can touch the level of 14,950 to 15,000. Tomorrow’s day will be important for the market.
Srikanth Chauhan Says that investors should stick to the buying strategy on the downside. The level of 14,680 -14,570 will serve as important support for the Nifty. Shrikant Chauhan recommends keeping an eye on technology and FMCG stock.
For social media updates, we need Facebook (https://www.facebook.com/moneycontrolhindi/) and Twitter (.).