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News Topical, Digital Desk : Weakness increased in the market in the first trading session of the week and the major indexes slipped further down. The market witnessed a decline all around on Monday. Amidst all this, stock specific action continued. Looking at the market signals, now trades are being made for selling. Experts have today advised those stocks in which there is a possibility of a decline increasing. At the same time, there is also a fear that if the market slips, then further important levels may break.
Now if Nifty slips, where will it go?
According to market expert Manas Jaiswal, Nifty broke the 50 DMA level in Friday's session. Selling pressure was also seen on Monday. Now the next important level for the market is 100 DMA which is close to 24600. If this level breaks, then Nifty can reach 200 DMA which comes close to 24200. According to him, the market structure till now seems negative, but due to the pressure seen for 3 days, it is possible that a pullback can be seen on Tuesday. However, it will be difficult for Nifty to stay at the upper levels. In the current conditions, buying opportunities in the index will be created only when Nifty remains above 24900. Before this, the market of selling on the rise can remain.
In which stocks the fall is expected, Manas has given 2 selling advice. In his first advice, he has sold Kaynes Tech. The stock has fallen by 3 percent today. According to him, the stock has broken the 100 DMA and the patterns are indicating that the decline may increase further. He has given a target of 5300 for the stock and has advised to keep a stop loss of 5600. The second stock is Godrej Properties in which Manas has advised to sell. According to him, the stock has broken the important level of 2200. According to him, the decline in the stock may increase. The stock closed at 2115.8 with a decline of 5 percent on Monday. Manas has given a target of 2050 for the stock and has advised to keep a stop loss of 2161.
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