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News Topical, Digital Desk : The market has seen a decline during the past week. However, experts remain positive about the direction of the market as the index has defended important levels. According to experts, the direction of the market is positive in the future as well. Market expert Manas Jaiswal has given his predictions about Nifty for Monday and advised favorite stocks for trading. You can also take advantage of these.
What is the prediction on the direction of the market?
According to Manas, the last week of the market should be seen as a consolidation. During the week, the market showed correction but Nifty did not go below 10 and 20-day moving average. At the same time, Bank Nifty went below the 10-day moving average but the closing was above it, that is, buying is being seen at these levels. He predicted that when the consolidation ends and a rally is seen, after crossing the level of 25600, the level of 25900 can be seen. He said that as long as Nifty remains above 20 DMA which is close to 25200, the main trend for the market will remain bullish.
Where can you place a bet? According to Manas, the performance of oil companies was excellent on Friday. Now on Monday also, buying can come in these companies. He trusts BPCL where a breakout has been seen. From a trading perspective, he has advised to buy BPCL, the target for the stock is 360, while the stop loss is advised at 339, the stock is at the level of 346. The second stock is Glenmark Pharma . According to him, the stock performed well on Friday, which may continue on Monday. From a trading perspective, he has advised to buy Glenmark, the target is 1900, while the stop loss is 1809. The stock is currently at the level of 1830.
Read More: Stock Market: Mid-smallcap stocks crashed, these 3 sectors were most affected, what was the reason?
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