There was a lot of uproar in the domestic stock market last week. The week started well with the stock market. The NSE Nifty managed to touch 15,000 point level. But the index could not maintain its lead. Friday saw heavy selling at the upper levels.
The results of the assembly elections will be monitored by the stock market
Foreign institutional investors (FIIs) sold more than Rs 3,000 crore on Friday. America is talking about returning its citizens from India and stopping flights from here. Increasing cases of Kovid continue to be a concern for the domestic market. He will be awaiting the results of the assembly elections next week.
NSE Nifty may remain in the range of 14,300 to 14,900
The domestic stock market may be slammed next week too. But NSE’s Nifty can be in the range of 14,300 to 14,900. As far as banking Nifty is concerned, it can get strong support of buying around 32,000. These things were said by Chandan Tapadia, Vice President and Derivatives Analyst, Motilal Oswal Financial Services.
Indication of buying in selling correction at above levels
According to Chandan, the Nifty has traveled from 14,150 to 15,050 in a few days, which is a good thing. The sell-off has been seen at higher levels, indicating a downward buyout. In the midst of disappointment in the stock market, a good buy-out was witnessed in Pharma and some technology stocks.
Pharma, metal, and tech stocks may look good buying
Next week, benchmark indices may remain in a narrow range but a good buy can be seen in the pharma, metal, and technology stock market. Monthly sales figures for two-wheelers and three-wheelers are also forthcoming. This may cause fluctuations in the shares of auto companies.
Small investors should focus on investing more than trading
In the environment that is present in the market, retail investors should focus more on investing for a long time than trading. The market may remain sluggish for some time but the trend may remain positive in the long term. In such a situation, investors should remain in the stock market despite the difficulties.
A positive trend in the market will occur due to nagging change in Bengal
As far as the election results of Bengal are concerned, the exit poll is showing a competition of thorns. The country and the world are watching the election results here. Somewhere these results will be seen affecting corporate India. According to Tapadia, there may be a positive trend in the stock market if there are nagging changes.
Small investors should start SIP for 2-3 years
Small investors should focus on starting a Systematic Investment Plan (SIP) for the next 2-3 years. As far as sectors are concerned, private banks, pharma, technology, insurance, stocks of big consumption companies can be selected for investment.