2 top stock recommendations from Shivangi Sarda
«So, levels per se, if we are expecting Nifty to hold above 24,440, then we could see round about 25,000 levels. And for the support, 24,150 would be important to watch out for,» says Shivangi Sarda, Motilal Oswal Financial Services.
What is your expectation, is the worst over and from here on, we are expecting a Diwali cheer or it is still a bit sceptical at the moment?
Shivangi Sarda: Of course, we have seen that some sort of a pressure was there the previous week, but we have seen a good pullback move today and we have somewhere got stuck at 24,440 levels, which is a crucial hurdle over here. So, once this level gets crossed, it is going to be somewhat of an end of the pain that we have seen in the last four weeks. But overall, we are seeing good buying interest emerging right at the start of this festive week. So, it is a good sign.
And focus should be on specific sectors as well. So, levels per se, if we are expecting Nifty to hold above 24,440, then we could see round about 25,000 levels. And for the support, 24,150 would be important to watch out for.
Talking about Bank Nifty, we are seeing, of course, the heavyweights are driving this index and somewhat there is a range-bound move over here. Comparatively, outperformance was seen here in this index as compared to the broader market because with the fall this index did not fall too much.
So, we are looking at 51,000 as a crucial support here for the next upside move of 52,500 levels. So, buy on decline on both the indices with selective sectors to watch
