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- Nifty May See 16200 Levels Next Week, Zomato IPO May Get A Huge Response
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- Nifty crosses the resistance level of 15,900 points, the market will be in a bullish trend
- Nifty may be seen moving towards record high of 16,200 points next week
This week there was a period of consolidation in the stock market, ie Nifty traded in a limited range. It gave a flat start this week at 15,700 and remained in a limited range of 200 points throughout the week. Usually after trading for a limited period of time, there is a strong rally in the market.
The effect of shortage of semi conductor will be visible on the entire automobile industry.
Due to the shortage of semiconductor chips, there is a possibility of reduction in production of automobile companies. Due to this, the shares of automobile companies took a beating this week. The impact of the shortage of semiconductors can be seen on the entire automobile industry.
Shares of companies in the IT sector can remain in a limited range
Business was done in limited scope in IT sector companies. The trend made in them may remain the same next week. The results of many big IT companies including Wipro are going to come next week. Hence market players can be careful in placing bets on them.
Nifty will be seen moving towards 16,200 point
Next week, if the Nifty index of NSE breaks above the resistance level of 15,900 points, then the market will form a bullish trend. If this happens, Nifty can be seen moving towards a record high of 16,200 points.
Ethanol production data will come next week
The market can keep an eye on the shares of sugar companies. Their ethanol production data will come next week. Apart from this, Zomato’s IPO is also opening for subscription. The public issue of the company is expected to get a great response.
(Kaushalendra Singh Sengar, Founder & CEO, Invest19)