Nifty may remain in the range of 15,500 to 15,900, Investors should follow buy on every dip strategy | Market will be eye on metal stocks, investors can also bet on realty shares

  • Hindi News
  • Business
  • Nifty May Remain In The Range Of 15,500 To 15,900, Investors Should Follow Buy On Every Dip Strategy

4 hours ago

  • copy link
  • Nifty gets 15600 points, then support at 15500
  • Diagnostic Labs shares may be a buy
  • Domestic institutional investors’ buying phase ends
  • FII net sold shares worth Rs 2,028 crore

The market can keep an eye on metal stocks next week. There could be a tussle between giants like Tata Steel and Hindalco. Investors can also place bets on realty stocks. Diagnostic Labs shares may be a buy. Stocks like Metropolis, Alkem, Dr Lal Pathlabs may remain strong.

The Volatility Index i.e. India VIX declined 7.03% on a weekly basis this week. It declined on Friday after a sudden jump from a several-month low, indicating a slight stabilization in the stock market. Futures market deals are indicating the Nifty to remain in the range of 15,500 to 15,900 points next week.

Next week, if Nifty crosses 15,750 and remains above it, then it will first move towards 15,850 points. After that its target will be 15,915 points. In case of decline, it will first get support at 15,600 points. If below this level, Nifty can fall up to 15,500 points.

Support at 15,600

Next week, if Nifty crosses 15,750 and remains above it, then it will first move towards 15,850 points. After that its target will be 15,915 points. In case of decline, it will first get support at 15,600 points. If below this level, Nifty can fall up to 15,500 points.

institutional investment

Foreign investors (FIIs) were net sell-offs for most of the trading sessions this week. He sold shares worth Rs 2,028 crore more than the shares he bought. The ongoing buying phase by domestic institutional investors (DIIs) also came to an end. He bought shares worth a net Rs 92 crore last week.

gold Silver

Gold gained 1.32% this week while silver fell 1.22%. A bullish pattern of higher high is being formed in gold for the last two weeks. Earlier this week, it went up to Rs 48,700 per 10 grams. It remained in a limited range for the rest of the week. In view of the increasing threat of the delta variant of the corona virus, people’s interest in safe investments like gold may increase. Therefore, investors should maintain a buying strategy every fall. As far as silver is concerned, it has lost 1.22% this week.

crude oil

This week, the price of crude oil has been lower by 0.57% on a weekly basis. In this, a consolidating pattern of higher highs was forming for the last seven weeks. This week it fell below last week’s low. It got off to a weak start this week, but bounced back in the last days on the back of increased demand from the economic recovery.

Talking about the US markets, the Dow Jones gained 0.24% on a weekly basis this week. After giving a weak start, it bounced back in the last days and rose by over 1.3% in a single session. It has a bullish trend in the short term. There may be all-round shopping there in the coming days.

(Chandan Tapadia, Head – Technical & Derivatives Research and Shivangi Sarda, Quantitative Analyst, Motilal Oswal)

There is more news…

Leave a Comment