ETMarkets Investors Guide (ETMarkets.com)
11:06 Min | December 27, 2020, 10:21 AM IST
Was the Monday mayhem an over-reaction to the new strain of coronavirus or does it indicate that the domestic equity market is a tinderbox looking for a spark? We find out the risks of investing in this bull run and more in today s special podcast with independent market expert Rajiv Nagpal. Listen in.
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Hello, you have tuned into ETMarkets Investors Guide, a show about asset classes, investment ideas and market trends. I am Nikhil Agarwal.
The week gone by was unique in its own way for Dalal Street, as both the bulls and bears managed to create records. Sensex suffered its worst crash in seven months on Monday, and then it went on to record its longest weekly gain since January 2018.
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ETMarkets Investors Guide: Will Nifty be lucky for the 7th time this week?
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Now the Nifty50 needs to continue to hold above 13,350 to witness an upmove towards 13,750.
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Overall, the lower levels of volatility suggests that bulls are holding a tight grip and any small decline could be bought in the market.
Before ending the last week at 13,513.85, Nifty formed a Doji candle with a long lower shadow on Friday, indicating a lack of momentum in the rally. But this also signals that every dips are being bought into.
Chandan Taparia of Motilal Oswal Securities said, The index has continued its northward trend and has been forming higher highs from the last six weeks. Now the Nifty50 needs to continue to hold above 13,350 to witness an upmove towards 13,750. On the downside, key support exists at 13,300.