In today’s live share market update, the Nifty 50 index has surpassed the 21,700 mark, while the Sensex is trading nearly 100 points lower. Eicher Motors has witnessed a decline of 2% in its stock value. Let’s delve into the details of the market movements and explore some important levels to track in the Nifty50 and Nifty Bank today.
Anil Singhvi Market Strategy: Key Levels to Watch in Nifty50 and Nifty Bank Today
Zee Business Managing Editor Anil Singhvi suggests that the Nifty50 index shows support levels at 21,600-21,675, with a strong buy zone at 21,500-21,600. For the Nifty Bank, he anticipates support levels around 47,925-48,075, and a strong buy zone between 47,725-47,850. It is crucial to monitor these levels for potential market movements.
Stocks to Watch: BHEL, LIC, Dhanlaxmi Bank, GR Infra, and Others
Today, the following stocks are expected to be in the spotlight:
- GR Infraprojects: The company has received a Letter of Intent for a transmission system project in the Madhya Pradesh region.
- Dhanlaxmi Bank: The bank has recorded a growth of 11.15% in total business compared to the previous year.
- Sheela Foam: The company has received a favorable decision from the joint commissioner regarding a GST Intelligence demand.
- APL Apollo Tubes: The company’s sales volume in the third quarter of FY24 remained steady compared to the previous year.
GIFT Nifty Futures Hint at a Sluggish Start on Dalal Street
GIFT Nifty futures, which serve as an early indicator for the Nifty 50 index, are down by 0.13% at 21,860.5 points. This indicates a sluggish start on Dalal Street, requiring market participants to stay cautious and monitor the market trends.
Market Expert’s Views: Anil Singhvi’s Analysis and Recommendations
Anil Singhvi, Zee Business Managing Editor, shares his insights and recommendations for the Indian share market today. His analysis offers valuable guidance for investors and traders, helping them make informed decisions based on market trends and potential opportunities.
Background Information on Nifty 50 and Nifty Bank
The Nifty 50 is an index comprising of the 50 most actively traded stocks on the National Stock Exchange (NSE) of India. It serves as a benchmark for the Indian equity market and represents various sectors of the economy. On the other hand, the Nifty Bank index consists of the banking sector’s most liquid and large-cap stocks, providing insights into the overall performance of the banking industry.
1. What is the current status of the Nifty 50 index?
The Nifty 50 index is trading above the 21,700 mark.
2. Which company’s stock has witnessed a 2% decline?
Eicher Motors has experienced a 2% decline in its stock value.
3. What are the key levels to watch in the Nifty50 and Nifty Bank today?
The Nifty50 shows support levels at 21,600-21,675, while the Nifty Bank has support levels around 47,925-48,075.
4. Which stocks should investors keep an eye on today?
Investors should monitor stocks like BHEL, LIC, Dhanlaxmi Bank, GR Infra, and others.
5. What do GIFT Nifty futures indicate for Dalal Street’s opening?
GIFT Nifty futures hint at a sluggish start, with a decline of 0.13% at 21,860.5 points.